MikeInBoca Blog

A rule of thumb is to save 1% to 4% of your home’s value for annual home repair and maintenance items.  Of course there are factors to consider, such as the age of your home, local prices for labor and materials, local climate, etc.  A recent article stated the average homeowner spent 0.6% of the home's value for maintenance in 2019.  The article referenced an Angi’s survey that found the average homeowner spent an average of $3,018 per year on home maintenance.  This does not refer to updating your home, but rather maintenance of the existing home.  An idea for homeowners to consider to mitigate any possible home related expenses is to purchase a home warranty that would cover repair and replacements of home systems and appliances.  Something home sellers should keep in mind is the home buyer will most likely have the home inspected, which should find any neglected repairs.  I advise my home sellers that they should be prepared to address any such iss...

Before you actually put your home on the market for sale, either with a real estate professional such as myself or as a "for sale by owner" (FSBO), another idea is to make the home feel not personalized to you.  Give the potential home buyer an idea as to how it will be when they live in it as opposed to feeling like they are looking at "your home."  I suggest to do this early on prior to taking pictures, and obviously, before having any showings. Here is a brief video (under two minutes) discussing this tip .  CLICK FOR YOUTUBE VIDEO I am happy to discuss the value I provide and how I can help you net the most amount of proceeds in your pocket from the sale of your home. You can get more tips and information from my  Youtube Channel : Mike In Boca: Contact me :  https://mikeinboca.com Michael Friedman Realtor, Broker-Associate, CDPE, NCREA eXp Realty

Palm Beach County home sales prices continued to climb in May 2022.  The median single family home in Palm Beach County rose to $615,000 in May 2022, up 29.5% from May 2021.  The Palm Beach County townhome and condo market was also up, just not as much, rising 23.0% in May 2022 over May 2021.  Inventory for single family homes moved up slightly to almost 2 months of inventory for single family homes.  Condo and townhomes decreased to slightly more than one month of inventory in May 2022.  The inventory levels will be an important metric to watch as interest rates rise, in my opinion.  Carlos A. Melendez, President of Broward, Palm Beaches & St. Lucie REALTORS® stated, ”the South Florida real estate market is hot, and one of the best ways to fight inflation is to work with a REALTOR® to invest in real estate. With a REALTOR®, you’re not just getting any real estate agent. You’re getting the expertise and dedication of a professional who is just as invest...

 Boca Raton Burger Battle For Best Burger 2022 Sanborn Square park in downtown Boca Raton will be hosting the 9th annual Boca Burger Battle on Saturday, July 16th.  You have the opportunity to sample the burgers, craft beers, wine, spirits and non-alcoholic beverages.  Local chefs from local restaurants will be battling it out to be named Boca’s best burger.  General Admission tickets are $50 in advance, or $100 at the event (if still available); VIP Tickets are $75 in advance, or $125 at the door, and also entitle you to a one-hour EARLY START (at 6:00, instead of 7:00). To purchase tickets or for more information, visit: https://BocaBurgerBattle.com/Tribune ; or call 561.338.7594. It’s nice to know you will be helping a local charity.  A portion of the event proceeds benefit Children’s Giving Foundation, a Boca Raton-based 510C-3 non-profit organization that supports local children’s charities. Do you have a favorite Boca Raton burger spot?  Let us know a...

Home Sales Tip 1  : Declutter Home sellers will inevitably ask what they should do when they are about to put their home on the market.  They ask about spending money on updates, buying things to make their home more attractive to home buyers, etc.  When I am engaged to represent a home seller, one of the first pieces of advice I give is for the home seller to de-clutter their home.  It is free and should be relatively easy.  No money needed, just some time and "elbow grease." Here is a brief video (under two minutes) discussing this tip. CLICK FOR YOUTUBE VIDEO This is true for sale by owner sellers who choose to sell their home by themselves or those who engage a real estate professional.  I am happy to discuss the value I provide and how I can help you net the most amount of proceeds in your pocket from the sale of your home. Please watch the video here from the Youtube Channel : Mike In Boca: Contact me : https://mikeinboca.com Michael Friedman Realtor,...

Buyer's Market Yet? July 5, 2002 A frequent question relates to whether or not it has become a buyer’s market.  A recent article entitled, “Home sellers are realizing it's no longer their housing market” delved into this topic.  One data point discussed was Redfin, a real estate brokerage company, estimated 6.1% of homes for sale during the four weeks leading to June 19, 2002 asked for a price drop, which was a record high since the beginning of 2015.  Speculation is the increase in mortgage rates has put some homebuyers on the sidelines.  According to MBA, the Mortgage Banker’s Association, a publication for the real estate finance industry, the median monthly mortgage payment increased $513 from the start of the year through May 2022.  The article quotes Lizy Hoeffer, owner and mortgage broker at Cross Country Mortgage LLC, as saying, “ If you overprice your home in any market, you're going to feel resistance.” Locally, the article noted, that “only about 8% o...