Each year it seems we are experiencing more and more disasters in our communities. Whether it be a hurricane, tornado, fire or flood it can be painful and devastating! The burden is on you, the insured, to write detailed lists of all of your affected areas. If all your belongings and property are destroyed how do you remember it all? It is nearly impossible! However, if you take some time and prepare right now, it can save you thousands of dollars.
Consider Digitally Documenting Your Property Before A Loss!
How do I do that?
What does it take?
- Set aside some uninterrupted time
- Have a camera available, make sure it is charged (have extra batteries)
- Get a friend to help you
Here are some tips to help you!
Go slowly.
Do outside first, documenting in photos and words what is there:
• EVERYTHING…. Landscaping – plants itemized
• Exterior – all walls – top to bottom
• Furniture, roof, art work, etc. and landscaping on walls, around pool
• Take photos of pool, spa, garage, attached or detached, storage sheds, inside and out
• Windows/screens, A/C unit, reference materials, what is it, who is the manufacturer, serial numbers etc.
Do inside of garage:
• Photograph what is on interior walls, on floor, inside cabinets. Reference name brand, model, etc. on everything
• Water conditioners, HVAC
• Sprinkler system box, tools, machinery, appliances inside
• Open all boxes, inventory each one
Tips for inside of house:
• Sketch out rooms, size, etc. or use blueprint
• Start at ceiling and work to floor
• Left side to right
Include:
• Ceiling texture, wall texture, ceiling molding, all lighting, ceiling fans, speakers, air vents, etc. alarm systems, photograph type of flooring, baseboards, window treatments, wall art. (Film what is on and in everything)
• Open cabinets and drawers
• Reference materials used
• Furniture maker, age if known
• Electronics – film and document, make, model, serial numbers
• Computers – film and document all software installed
• Don’t forget closets, clothing, shoes, built ins, etc.
Don’t forget to photograph your children’s phone, iPad, iPod, MP3 players, sporting equipment, etc.
Precious and costume jewelry
Fine art and collectibles
Burn DVD:
Make an extra copy and send to a friend or family member out of state
Checkout these websites for more information
www.statefarm.com/_pdf/home_inventory_checklist.pdf www.knowyourstuff.org
Sandi Wagner
Vice President/Managing Broker
Watson Realty Corp.
Intracoastal Office
SWagner@WatsonRealtyCorp.com
Thursday, January 19, 2012
Tuesday, January 17, 2012
REAL ESTATE VERSUS GOLD
We are hearing so many advertisements about buying gold as a hedge against inflation and the uncertainty of the economy.
My preference is rental of real estate as a great hedge against inflation plus the yearly income from rentals. Gold does not offer the benefits of a yearly rental income stream. The rental return on today’s reduced values of great real estate properties offers a good return plus far exceeds money just sitting in the bank at very low interest rates.
The real estate window of opportunity will not last indefinitely for below-market purchases of good income property.
If you would like additional information on Real Estate Investing, a number of Watson Realty Associates have completed extensive training on real estate investing through “Own America” and can help you make good decisions.
Bill Watson, Jr.
Chairman of the Board
Watson Realty Corp.
My preference is rental of real estate as a great hedge against inflation plus the yearly income from rentals. Gold does not offer the benefits of a yearly rental income stream. The rental return on today’s reduced values of great real estate properties offers a good return plus far exceeds money just sitting in the bank at very low interest rates.
The real estate window of opportunity will not last indefinitely for below-market purchases of good income property.
If you would like additional information on Real Estate Investing, a number of Watson Realty Associates have completed extensive training on real estate investing through “Own America” and can help you make good decisions.
Bill Watson, Jr.
Chairman of the Board
Watson Realty Corp.
Tuesday, January 3, 2012
2012 A Fresh Start
As we reflect back, we can recognize that we saw monumental changes in the mortgage industry.
There were new Good Faith Estimates that did not make things clearer for the consumer and made the lender responsible for fees that were not theirs. We saw regulations on products tighten and investor overlays restrict availability even more to the consumer. The United States Government legislated how Loan Originators are paid.
We have seen the mortgage industry completely change and reform to fit the new mold. Change always brings new opportunities. Unemployment has started to drop. Real Estate prices are beginning to stabilize and interest rates are unbelievably low. Guidelines and restrictions are starting to loosen every day, some are even relaxing. Housing starts are up. The markets have not been as volatile. There are little glimmers of hope that shine through to let us know, the future is as bright as we are willing to make it. It may not be the same way as we have done it before, but a fresh new way.
As we look back, let us not forget to appreciate the things that mean the most in our lives; our family, friends and loved ones. Be thankful for all of your joys and focus on the positive. Let’s make 2012 a great fresh start. We wish you all peace and prosperity for the New Year.
Bill Watson III
President
Watson Mortgage Corp.
There were new Good Faith Estimates that did not make things clearer for the consumer and made the lender responsible for fees that were not theirs. We saw regulations on products tighten and investor overlays restrict availability even more to the consumer. The United States Government legislated how Loan Originators are paid.
We have seen the mortgage industry completely change and reform to fit the new mold. Change always brings new opportunities. Unemployment has started to drop. Real Estate prices are beginning to stabilize and interest rates are unbelievably low. Guidelines and restrictions are starting to loosen every day, some are even relaxing. Housing starts are up. The markets have not been as volatile. There are little glimmers of hope that shine through to let us know, the future is as bright as we are willing to make it. It may not be the same way as we have done it before, but a fresh new way.
As we look back, let us not forget to appreciate the things that mean the most in our lives; our family, friends and loved ones. Be thankful for all of your joys and focus on the positive. Let’s make 2012 a great fresh start. We wish you all peace and prosperity for the New Year.
Bill Watson III
President
Watson Mortgage Corp.
Wednesday, December 28, 2011
Mineral Rights
At a closing last month, the purchaser of a small home outside of Middleburg on a couple of acres looked over at me and asked a question I had not heard in a long time, “Do I own the mineral rights?” Not a common question in residential real estate, but an important one for anyone who is purchasing property of any size.
Of course, in this case, he did. As part of the investigation that leads to title commitment, we will discover anything like a sale of rights that would prevent the buyer from having free and clear ownership.
My maternal grandfather’s constant refrain was, “Never sell your mineral rights!” My mother’s family is from southern Mississippi on the northern edge of the oil deposits found in the Gulf of Mexico. Mineral rights are no small thing even if you don’t have a little oil on your land.
There is more than oil, coal or metals when it comes to mineral rights. Even here in Florida exceptional value can be found on and underground. Florida ranks fifth in the nation in mining, with an industrial mineral production value of $1.92 billion. From limestone to rare earth elements, some of the most valuable mining land in the country is in Florida, with active mines in all counties of North and North Central Florida, and elsewhere throughout the state.
Value isn’t just found below the ground, people can also sell their timber rights and air rights. Yes, it is possible to own land but not the trees on it or the air above.
If the owner sells their timber rights, they no longer own the property free and clear. The timber rights include current trees on the property and future trees that will grow, and the owner of the timber rights can take them whenever they want if that is how the rights were conveyed.
In this situation, if a timber company can come on the property, they could take the trees and leave.
Air rights are usually seen in areas where you see things such as ski lifts – so perhaps not a big Florida concern, but it is still a possibility. Each situation is different, but the importance is the same.
In summary, unless you want dredging equipment behind the pool, a forest of stumps, or a zip-line over the front porch, make sure you have free and clear title to your property when you purchase it – something your title company will do for you.
Greg Harris; GRI, CDPE
President,
Watson Title Services of North Florida, Inc.
gregharris@watsontitle.net
Of course, in this case, he did. As part of the investigation that leads to title commitment, we will discover anything like a sale of rights that would prevent the buyer from having free and clear ownership.
My maternal grandfather’s constant refrain was, “Never sell your mineral rights!” My mother’s family is from southern Mississippi on the northern edge of the oil deposits found in the Gulf of Mexico. Mineral rights are no small thing even if you don’t have a little oil on your land.
There is more than oil, coal or metals when it comes to mineral rights. Even here in Florida exceptional value can be found on and underground. Florida ranks fifth in the nation in mining, with an industrial mineral production value of $1.92 billion. From limestone to rare earth elements, some of the most valuable mining land in the country is in Florida, with active mines in all counties of North and North Central Florida, and elsewhere throughout the state.
Value isn’t just found below the ground, people can also sell their timber rights and air rights. Yes, it is possible to own land but not the trees on it or the air above.
If the owner sells their timber rights, they no longer own the property free and clear. The timber rights include current trees on the property and future trees that will grow, and the owner of the timber rights can take them whenever they want if that is how the rights were conveyed.
In this situation, if a timber company can come on the property, they could take the trees and leave.
Air rights are usually seen in areas where you see things such as ski lifts – so perhaps not a big Florida concern, but it is still a possibility. Each situation is different, but the importance is the same.
In summary, unless you want dredging equipment behind the pool, a forest of stumps, or a zip-line over the front porch, make sure you have free and clear title to your property when you purchase it – something your title company will do for you.
Greg Harris; GRI, CDPE
President,
Watson Title Services of North Florida, Inc.
gregharris@watsontitle.net
Tuesday, December 27, 2011
The 2012 Market Gifts
As our year closes out we must continue to interpret the market dynamics. These past few years have be even more challenging to decipher. Below you will find my thoughts regarding where you will find the best opportunities in your local real estate markets.
I think the best place to look first are bank owned (REO) properties. In many markets, according to Kiplinger’s Housing Forecast bank owned properties may be discounted as much as 1/3 of the average square foot price. Additional “distressed property sales” including short sales & pre-foreclosures may still offer high appealing discounts. Please note, huge discounts previously offered by lenders in the “lender assisted sales” are really behind us. More often than not, lenders are much tougher in negotiating price and concessions. For those interested in this market segment need to act now to achieve the greatest value package from lenders.
While the investor driven market may have been the economic engine which drove us to price levels which could not be sustained, they will undoubtedly be the ones which will drive the 2012 recovery. It is my opinion that current price levels have dropped below “fair market value” and investors are now returning to the market with cash and big smiles on their faces!
There are two additional categories of properties available today. They are new home sales and “seller owned (non-distressed sales).” If you have ever considered new home purchases in the past, now is the time to take advantage of builders standing inventory to negotiate the past value package they represent. Builders’ inventory levels have shrunk and those remaining units can be purchased at rock bottom price levels.
Where does this leave the home seller who has kept their homes in well above average condition and if there is a mortgage it remains current. This is still the preferred choice of many buyers. They know they are going to pay a fair market price for this group of homes, but they come with much less risk as it relates to condition and ongoing maintenance and care. These homes can be purchased and closed within 30-45 days and may be as few as 7-10 days. We have closed several “cash sales” within this short time frame. This group of homes are the neighborhood standard for all others to admire and aspire to. These are properties which have contributed to slowing down the continued drop in neighborhood values.
My advice, research types of properties you desire whether as a new residence or as an investment purchase. Today’s emerging investor is one who knows that purchases today will yield incredible returns in the future. These investors want to acquire, enhance, rent and let their tenants build their next future egg. They want well qualified tenants who will add value in curb appeal to their investments and hopefully will stay beyond a one year term.
If you are interested in taking advantage of these opportunities please feel free to contact me for additional information at DonShamblin@WatsonRealtyCorp.com
Don Shamblin
Vice President/Managing Broker
Watson Realty Corp.
OP Oakleaf Office
DonShamblin@WatsonRealtyCorp.com
I think the best place to look first are bank owned (REO) properties. In many markets, according to Kiplinger’s Housing Forecast bank owned properties may be discounted as much as 1/3 of the average square foot price. Additional “distressed property sales” including short sales & pre-foreclosures may still offer high appealing discounts. Please note, huge discounts previously offered by lenders in the “lender assisted sales” are really behind us. More often than not, lenders are much tougher in negotiating price and concessions. For those interested in this market segment need to act now to achieve the greatest value package from lenders.
While the investor driven market may have been the economic engine which drove us to price levels which could not be sustained, they will undoubtedly be the ones which will drive the 2012 recovery. It is my opinion that current price levels have dropped below “fair market value” and investors are now returning to the market with cash and big smiles on their faces!
There are two additional categories of properties available today. They are new home sales and “seller owned (non-distressed sales).” If you have ever considered new home purchases in the past, now is the time to take advantage of builders standing inventory to negotiate the past value package they represent. Builders’ inventory levels have shrunk and those remaining units can be purchased at rock bottom price levels.
Where does this leave the home seller who has kept their homes in well above average condition and if there is a mortgage it remains current. This is still the preferred choice of many buyers. They know they are going to pay a fair market price for this group of homes, but they come with much less risk as it relates to condition and ongoing maintenance and care. These homes can be purchased and closed within 30-45 days and may be as few as 7-10 days. We have closed several “cash sales” within this short time frame. This group of homes are the neighborhood standard for all others to admire and aspire to. These are properties which have contributed to slowing down the continued drop in neighborhood values.
My advice, research types of properties you desire whether as a new residence or as an investment purchase. Today’s emerging investor is one who knows that purchases today will yield incredible returns in the future. These investors want to acquire, enhance, rent and let their tenants build their next future egg. They want well qualified tenants who will add value in curb appeal to their investments and hopefully will stay beyond a one year term.
If you are interested in taking advantage of these opportunities please feel free to contact me for additional information at DonShamblin@WatsonRealtyCorp.com
Don Shamblin
Vice President/Managing Broker
Watson Realty Corp.
OP Oakleaf Office
DonShamblin@WatsonRealtyCorp.com
Friday, December 23, 2011
Watson Realty Corp. Welcomes Cindy Hewett to the Ponte Vedra Beach office
Watson Realty Corp., REALTORS® is pleased to welcome Cindy Hewett to the Watson Realty Ponte Vedra Beach office. As a resident of Jacksonville for nearly her entire life, Ms. Hewett had no doubt about which real estate brokerage firm to place her real estate license. “Watson Realty Corp. is a real estate market leader in Northeast Florida and a member of Leading Real Estate Companies of the World®. To me, the choice–the vision-- is clear,” shared Ms. Hewett.
Ms. Hewett became a licensed REALTOR® after a 25-year successful career in the legal field. Now doing her dream job, her real estate customers can benefit from her experience and professional skills in ethics, negotiation, investments and contracts.
Ms. Hewett has a love for the natural beauty of Northeast Florida and the serenity of beach living in Ponte Vedra. She enjoys volunteering with her loving Papillion, Lucille, for the Community Hospice pet therapy program and also with the Florida Fish and Wildlife Conservation Commission as part of their volunteer sea turtle patrol. Ms. Hewett is a proud member of the Ponte Vedra Woman’s Club and a charitable sponsor of their social events in support of organizations such as the Florida School for the Deaf and the Blind. In her spare time, she enjoys golf and is a certified yoga instructor – loving to practice as much as to teach.
Ms. Hewett welcomes the opportunity to help buyers and sellers with all of their real estate needs in the Northeast Florida area or to provide a referral for any out-of-town transactions.
For more information or to view listings, Cindy Hewett can be reached by phone at (904) 607-6277 or at CindyHewett@WatsonRealtyCorp.com. The Ponte Vedra Beach office is located at 615 Highway A1A in the beautiful coastal city southeast of Jacksonville, Fla.
Wednesday, December 21, 2011
Choosing The Right Real Estate Company To Begin Your Career With
As a 19 year real estate veteran, spending 15 of those years with Watson Realty, I know something about choosing the right real estate company. To be fair I will confess bias toward Watson Realty, but for this blog I will put myself in the role of “new agent”, looking for the best fit in a real estate company.
When you are a new agent, training is what you need most. Training first, guidance second, and mentoring third.
Training is simply learning the day to day fundamentals of the real estate profession.
These include a thorough understanding of:
• Contracts & Addendums
• Short Sales & REO (real estate owned) Properties
• The Listing Process (developing a fluid presentation, preparation of CMA, objection handling techniques)
• Prospecting for listings and buyers (high impact, low impact, farming)
• Developing an Effective Marketing Plan for Listings
• Servicing the Listing (customers, clients and co-broke agents)
• Conducting a Successful Open House
• How to build a successful Sphere of Influence, gain referrals, etc.
• How to effectively work with buyers (prequalify for financing, questioning techniques to help you separate needs & wants, prepare an accurate net sheet, negotiate contracts)
• Develop a Business Plan
• Using Social Media effectively to grow your business
• Mastery of various Computer Programs you will be using
• And More
Once you have completed training classes to become more familiar with “the basics”, you now need guidance on what to do, when to do it, and who to do it to! Your broker or branch manager is “key” to keeping you on a successful path. They know where you should be spending (80%) of your time, and where the other (20%) needs to go. This guidance from your broker or manager can make the difference in the new agent making their first few contracts, or floundering about like a fish on dry land.
Many brokers and branch mangers will utilize a “mentoring program”, whereby they assign an experienced agent to assist the new agent on their first few listing presentations, outings with buyers, assistance in conducting open houses and more. In this process, the new agent may “shadow” the experienced agent on some of their transactions, and the experienced agent will do the same for the new agent. By prior arrangement, the experienced agent may share a portion of the new agent’s first couple commissions as just compensation – and most new agents will be quite happy to have this oversight on their first few transactions. A new agent will become confident in their abilities, and will soon be running their own successful businesses.
Frank Plesko
Vice President/Branch Manager
Watson Realty Corp.
Maitland Office
frankplesko@watsonrealtycorp.com
When you are a new agent, training is what you need most. Training first, guidance second, and mentoring third.
Training is simply learning the day to day fundamentals of the real estate profession.
These include a thorough understanding of:
• Contracts & Addendums
• Short Sales & REO (real estate owned) Properties
• The Listing Process (developing a fluid presentation, preparation of CMA, objection handling techniques)
• Prospecting for listings and buyers (high impact, low impact, farming)
• Developing an Effective Marketing Plan for Listings
• Servicing the Listing (customers, clients and co-broke agents)
• Conducting a Successful Open House
• How to build a successful Sphere of Influence, gain referrals, etc.
• How to effectively work with buyers (prequalify for financing, questioning techniques to help you separate needs & wants, prepare an accurate net sheet, negotiate contracts)
• Develop a Business Plan
• Using Social Media effectively to grow your business
• Mastery of various Computer Programs you will be using
• And More
Once you have completed training classes to become more familiar with “the basics”, you now need guidance on what to do, when to do it, and who to do it to! Your broker or branch manager is “key” to keeping you on a successful path. They know where you should be spending (80%) of your time, and where the other (20%) needs to go. This guidance from your broker or manager can make the difference in the new agent making their first few contracts, or floundering about like a fish on dry land.
Many brokers and branch mangers will utilize a “mentoring program”, whereby they assign an experienced agent to assist the new agent on their first few listing presentations, outings with buyers, assistance in conducting open houses and more. In this process, the new agent may “shadow” the experienced agent on some of their transactions, and the experienced agent will do the same for the new agent. By prior arrangement, the experienced agent may share a portion of the new agent’s first couple commissions as just compensation – and most new agents will be quite happy to have this oversight on their first few transactions. A new agent will become confident in their abilities, and will soon be running their own successful businesses.
Frank Plesko
Vice President/Branch Manager
Watson Realty Corp.
Maitland Office
frankplesko@watsonrealtycorp.com
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