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273 Articles Found

R E N T E D

Villamar at Toscana Isles

7157 Villamar Way

Lake Worth

3 Bed | 2 Bath | 1,998 SF

Rented for $4,500/ mo

Lessee represented by Nina Yanowitz



 

under C O N T R A C T

Chapel Cove

1200 NW 192nd Ln

Pembroke Pines

3 Bed | 2 Bath | 1,580 SF

Last asking: $485,000

Buyer represented by Lisa Yanowitz



 

closed S A L E

Long Lake Estates

10150 S Lake Vista Cir

Davie

4 Bed | 4 Bath | 3,528 SF

Closed for $1,028,125

Seller represented by Lisa Yanowitz



 

There are things that can happen to their homes that their homeowners insurance policies don't cover. Fire is the basic coverage provided by an insurance policy, while other common perils are water damage, theft, wind and liability. Earthquake and flood usually require a separate policy. In some states you can add earthquake coverage as an endorsement. It is important to discuss the risk you face and purchase the proper coverage. Just so you'll be forewarned, here are eight other perils, besides damage from an invading squirrel, for which you probably aren't insured.

1. Floods

Damage caused by flooding is excluded under standard homeowners insurance policies, according to the institute's primer on what disasters are covered by insurance. That's why it's prudent to obtain flood insurance, either from a private insurer or through the U.S. government's National Flood Insurance Program.

2. Earthquakes

When a 5.8 magnitude earthquake in Virginia shook the U.S. east coast in 2011, it caused as much as $300 million in losses and varying degrees of damage to 600 residences. Many of the owners may have been chagrined to discover that their homeowners insurance didn't cover the cost of repairing the harm to their houses. Coverage for earthquakes, which can damage foundations and collapse walls, requires a separate policy, though a standard homeowners policy generally will cover damage from fires caused by quakes, according to the institute.

3. Sewer Backups

Sewer backups can be pretty messy, and they're not covered either by homeowners insurance policies or flood coverage, according to the institute. Instead, you'll need to purchase additional sewer coverage.

4. Maintenance Damage

Maintenance damage. Homeowners policies don't cover damage caused to your home by your neglect of basic maintenance, according to the institute. Similarly, you're not covered if your house becomes infested by termites and other pests, or develops mold.

5. Backyard Trampolines and Pools

Sure, they're fun. But according to the National Association of Insurance Commissioners, both trampolines and pools are dangerous enough that some companies may not insure your property if you have them, or else may exclude liability for any injuries related to them. They also may even cancel your policy if you don't inform them when you get a trampoline or a pool, or don't follow the policy's safety guidelines.

6. Dog Attacks

If your family pet bites a visitor, you're typically covered for legal liability up to your policy's liability limit — usually $100,000 — according to the institute. The average dog bite claim is around $39,000, so you should be OK. But it's a bigger problem if you own a breed with a reputation for being aggressive, because some insurance companies won't cover you at all.

7. Really Expensive Jewelry

Typically, homeowners' policies set a limit on how much bling they'll cover — usually around $1,500, according to the institute's article on jewelry and other valuables. If you've got a lot of costly rings or necklaces, you'll want to consider getting a floater policy, which covers any sort of loss, including dropping your ring down a drain. That'll require you to get the items appraised professionally.

8. Your Stuff in Someone Else's Basement

If you've got a friend or neighbor who allows you to store some of your possessions in his or her basement, you could lose out in the event of a disaster, according to Amy Bach, executive director of United Policyholders, a California-based consumer advocacy group. That person's insurer isn't going to cover your losses, since you're not the homeowner. "You'd have to try to collect money from your friend," Bach says.



 

By Amber Randall

Homeowners have read bidding-war stories and heard about homes selling for thousands of dollars more than asking price. Now they’re becoming sellers and think they can overprice their property, but the market is seeing more price reductions – 9.4% in Aug., says Zillow, up from 8.6% in July.

FORT LAUDERDALE, Fla. – Some home sellers are getting greedy in the scorching housing market, and it’s backfiring on them.

Many are setting their prices too high, trying to squeeze out every dollar from buyers who are willing to pay well over the asking price, often with cash. A growing percentage of sellers quickly learn that they’ll have to get real.

Some 9.4% of homes on the market in August had reduced prices, up from 8.6% in July, according to Zillow, an online listing service. In May and June, price cuts stood at 7.8% and 7.7% respectively, indicating the over-eagerness has spread.

“Many of the price cuts are a result of sellers getting overconfident in this market and asking for too much,” said Eli Beracha, professor of real estate at Florida International University. “Price cuts are not happening now for houses that are priced fairly and show well.”

On occasion, price cuts can work in a seller’s favor because they widen the pool of prospective buyers, who then might be willing to bid up the property in order to get it, said real estate broker Patty DaSilva with Green Realty Properties in Cooper City.

But widespread price cuts also can be bad for the overall market, as they cause buyers to be wary of trying to buy and they might back away, said Whitney J Dutton, real estate adviser with the Dutton Group in Fort Lauderdale.

“When you make price reductions to get them back to the property, they wonder what’s wrong with it. Why doesn’t anyone else want it?” he said.

A home that is priced correctly will move fast, said Gene Whiddon, real estate agent with Better Homes and Gardens Real Estate in Fort Lauderdale. He recently listed a two-bedroom, two-bathroom condo in Fort Lauderdale and got three offers for full price in only two days.

The increasing number of price drops doesn’t mean the market is getting cheaper, agents say. It just means the overpriced homes are being reduced to a healthier level, said Adam Docktor, a real estate agent with Compass in Fort Lauderdale.

The market in general is still hot. The median price in Palm Beach County was $480,000 in August, up 20% from last year. It was $495,000 in Broward County, up 19%, and $500,000 in Miami-Dade, a 20% increase.

Real estate agents call the high prices a “make-me-move” price. Sellers want to see how much money they can make rather than moving out of pure necessity, Dutton said.

Almost 25% of sellers put their homes on the market just to see how much profit they can make, according to a survey from realtor.com. Almost 30% said they were going to ask for more than their home was worth.

“For sellers, finding that highest possible strike price through small price adjustments is sometimes more appealing so they don’t leave money on the table that they may have otherwise been able to capture,” said Bonnie Heatzig, executive director of luxury sales at Douglas Elliman in Boca Raton.

If a home has sat on the market for more than two weeks – with no significant maintenance issues – that’s usually a big indicator that it’s priced too high, said real estate broker Patty DaSilva with Green Realty Properties in Cooper City.

“Buyers know when something is overpriced,” she said.



 

C L O S E D sale

Highland Lakes

20921 NE 24th Ave

Miami

3 Bed | 2 Bath | 2,638 SF

Sold for: $920,000

Buyer represented by Lisa Yanowitz



 

under C O N T R A C T✔️

Victoria Park

514 N Victoria Park Rd

Fort Lauderdale

3 Bed | 3 Bath | 1,723 SF

Last asking: $1,095,000

Buyer represented by Lisa Yanowitz



 

J U ST closed

Record breaking as

Highest sale EVER in

Lake Estates at Rolling Hills!

Davie

4 Bed | 4 Bath | 3,732 SF

Sold for: $950,000

Seller represented by Jesse Miller



 

By Christopher Rugaber

"While housing price gains may be starting to slow, Case-Shiller’s June report found a year-to-year increase of almost 20%. One Case-Shiller analyst called the past few months “extraordinary not only in the level of price gains but in the consistency of gains across the country.”

WASHINGTON (AP) – U.S. home prices jumped by a record amount in June as homebuyers competed for a limited supply of available houses, the latest evidence that the housing market remains red-hot.

The S&P CoreLogic Case-Shiller 20-city home price index soared 19.1% in June compared with a year earlier, the largest increase on records dating back to 2000. The annual price gains in June were higher in all 20 cities than they were in May. Prices are now at record highs in 19 of the 20 cities, with the exception of Chicago.

“The last several months have been extraordinary not only in the level of price gains, but in the consistency of gains across the country,” said Craig Lazzara, managing director of index investment strategy at S&P DJI.

There are signs that the high prices are cooling sales a bit. Sales of existing homes rose 1.5% in July from a year earlier, a separate report showed last week. That’s a much slower pace than the previous month. And the number of contracts signed to buy homes, a leading indicator of final sales, has fallen for two straight months.

Prices rose in June by the most in Phoenix, where they soared 29.3% compared with a year earlier, followed by San Diego, with a 27.1% increase, and Seattle, at 25%.

The COVID-19 pandemic has driven many Americans to seek homes in suburban areas that provide more space and are not as congested as apartments in big cities. Yet many other homeowners have been reluctant to sell during the pandemic, and the construction of new homes has foundered amid shortages of materials, land and labor.

That left just 1.32 million existing homes for sale in July, down 12% from a year earlier. Yet there are signs that the high prices are encouraging more people to sell, as the number of available homes rose in July compared with the previous month.

Another challenge for would-be homebuyers is competition from investors, including some Wall Street firms, who are purchasing single-family homes for rent. Nearly a quarter of all existing home sales in July were all-cash sales, up from 16% a year earlier."



 

As the real estate market turns sluggish, you may have to take steps to set your home apart from others. It won't be enough to just put out a for-sale sign and wait for potential buyers. One way that homeowners can sell their homes more speedily is by home staging, which can have the added benefit of pushing up the selling price of your home. Basically, staging consists of arranging your home's décor and furniture in such a way as to make the home have more of an appeal to prospective buyers.

In some cases, home staging can be a relatively simple and inexpensive undertaking. You may be comfortable with just cleaning up your home and removing all day-to-day items. On the other hand, you may want to consider investing a more substantial amount of time and money into your home staging project. The main benefit of investing in landscaping, painting and new furniture is that a potential buyer will come away from a visit to your home with a better idea of how his or her new home will look.

Home staging has been around since the 1970s. Although it began on the West Coast of the United States, the concept eventually spread to the rest of the country. There's more to home staging than just decorating. The general idea behind home staging is to depersonalize your home so that a prospective buyer will be able to imagine him or herself living in it. By removing piles of newspapers and family photos, you'll be able to increase your home's appeal. Another tip is to choose neutral colors for your home's carpet and paint. If it's within your budget, you'll also want to think about buying new appliances. Although many people do a good job of staging their own homes, you can also hire a professional to do the job for you.



 

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273 Articles Found

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Rented | Lake Worth
R E N T E D  Villamar at Toscana Isles 7157 Villamar Way Lake Worth 3...

Under Contract | Pembroke Pines
under C O N T R A C T Chapel Cove 1200 NW 192nd Ln Pembroke Pines 3 Bed | 2...

Closed Sale | Long Lakes Estates, Davie
closed S A L E Long Lake Estates 10150 S Lake Vista Cir Davie 4 Bed | 4 Bath...

Closed Sale | Highland Lakes, Miami
C L O S E D sale Highland Lakes 20921 NE 24th Ave Miami 3 Bed | 2 Bath | 2,638...

Many Overly-Confident Sellers Price Their Home Too High
By Amber Randall Homeowners have read bidding-war stories and heard about homes selling...

What Might Your Homeowners Insurance NOT Cover?
There are things that can happen to their homes that their homeowners insurance policies...

Under Contract | Victoria Park
under C O N T R A C T✔️ Victoria Park 514 N Victoria Park Rd Fort Lauderdale 3...

Record Breaking Closed Sale | Davie
J U ST closed  Record breaking as Highest sale EVER in Lake Estates at Rolling...

Why Should You Stage Your Home To Sell?
As the real estate market turns sluggish, you may have to take steps to set your...

Case-Shiller: Home Prices Soar at Record Pace in June
By Christopher Rugaber "While housing price gains may be starting to slow, Case-Shiller’s...

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