Waterfront and Dock Information

Yes, it is the American Dream, especially in Florida. Buy a home on "Big" water and dock the boat out back and live it up. Before you buy, however, there are a few questions you may want to find the answers to. Take it from us, as we have been through it all as far as permitting goes for a boat dock. We purchased a home right on beautiful Lemon Bay in Englewood about a year and a half ago. We immediately began working on getting a new dock put in as the old one was quite dilapidated and we are active boaters. We were told correctly when we purchased the home that the existing dock was "grandfathered in". What we did not realize was that only the existing dock was grandfathered, look out if you want to replace it, or make any type of major repair. The laws have changed and now you must abide by all of the Resource Protection laws, and also conform to Department of Environmental Protection, Army Corp of Engineers, and others such as the Water & Navigation Control Authority (WNCA). We have finally muddled our way through all of the paperwork with the help of some very knowledgeable people. To make a long story short, our dock went from 16ft. long to a required 300 ft. long! Would we do it again? You bet! The added value to our property will make it all worth it in the long run. Here is a link to a great website that I would highly recommend. It is from a local attorney who specializes in waterfront real estate transactions. http://www.flwaterfront.com/default2.htm Have you had a problem getting a new dock installed? We would love to hear your story! After all we have been through, we feel we have truly earned the title "Waterfront Specialists".

Rising Rates Returning Real Estate to a Normal Level?

Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market SurveySM (PMMSSM) in which the 30-year fixed-rate mortgage (FRM) averaged 6.78 percent, with an average 0.5 point, for the week ending June 29, 2006, up from last week’s average of 6.71 percent. Last year at this time, the 30-year FRM averaged 5.62 percent. The 30-year FRM has not been higher since May 24, 2002, when it averaged 6.81 percent.
Financial markets continue to expect more rate hikes by the Fed over the next six months, which has added upward pressure on mortgage rates," said Frank Nothaft, Freddie Mac vice president and chief economist. "With higher interest rates, the housing market has begun a gradual and orderly reversion towards historical norms. For instance, new construction, home sales and house price appreciation have all been slowing over the past few months.

Insurance Crisis?

A lot has been in the news lately regarding the homeowner insurance crisis Floridians are finding themselves facing. With companies like Poe going under, and Citizens becoming the number one insurance carrier in the state, there is certainly reason for concern. We recently purchased a brand new home for investment purposes and found that Citizens was the only insurance available for the simple reason that it was not an owner occupied home. Specualtion is that insurance rates will go up as much as 100% in the near future. If you have a homeowner insurance problem, please share.

Buyers Market...

Oh yes, you have heard the rumors and they are true. We are in a buyers market, at least in the Charlotte and Sarasota county area. We have been selling real estate here for 10 years, and have never seen the market so flooded with properties for sale! What does that mean to you?? Well, it depends if you are the buyer or the seller. Not a great time for sellers to get top dollar, but for buyers, they now have many options open to them including owner financing, and lease options. Things we do not see in a strong market. Share your thoughts with us!