Tampa Bay Real Estate Blog- Kohan & Associates Real Estate: The Tides Roll in and out

Tampa Bay Real Estate Blog- Kohan & Associates Real Estate: The Tides Roll in and out: On new Year's Eve 1936 The Tides Hotel and Bath Club officially opened. It was a group of buildings including the main hotel, patio apa...

The Tides Roll in and out

On new Year's Eve 1936 The Tides Hotel and Bath Club officially opened. It was a group of buildings including the main hotel, patio apartments, a motor inn and cottages.  The Bath Club was in the center and had two dining rooms, a ballroom, dinner theater and two swimming pools. With its creaky wood floors, posh oriental rugs and eloquent ambiance, it was the place to see and be seen.  Pinellas County's high society made it their chosen recreation area  for weddings, art exhibits, fashion shows and special events. Time could be spent swimming, honeymooning, playing cards, eating lunch or cutting a rug on the parquet floors of the Four Seasons Room.

The impeccable service drew famous visitors like Alfred Hitchcock, Marilyn Monroe and Joe DiMaggio.  Thousands of members through the years spent time at The Tides. Although popular, the hotel became old and rundown. The 14 acres of beachfront land were soon worth more than the aged bath house and hotel so were sold to make way for a new development. In 1996 the old Tides was demolished with the new Tides completed in 2000. 

Today, the Tides Beach Club consists of 6 condo buildings, 214 units, 3 swimming pools and sprawling sand beach along North Redington. The Tides roll out and the tides roll in.

For information on the beautiful complex or any other properties, feel free to contact Kohan & Associates at www.Suncoasthome.com.

Deciding Between Renting and Owning?

Compare the cost of Renting vs. Owning a Home in Every State in 2017 to determine the most affordable option. According to GO Banking Rates, it has traditionally been financially wiser to own a home rather than renting one.  But as the demand increases and the supply decreases, the price of homes has been rising across the country, per real estate marketplace Zillow. So is it better to rent or own?

In a survey comparing costs of renting versus owning, a number of places were found where it is more expensive to own than rent.  This was the case in 11 of the 50 states, including a few states where the price difference is nominal.

The study looked at the estimated rent prices for all homes listed on Zillow.  Additionally the estimated monthly mortgage to own a home in each state was calculated, based on the median list price of homes listed on Zillow, a 20% down payment and a 30 year fixed rate loan.

The monthly rent in Florida was determined to be $1,543 on average with a monthly mortgage average of $1376.  One could argue based on these numbers that it is better to buy than rent in the Sunshine State.  Home prices have been rising in Florida so if you are considering making your move, there is no better time than the present.  Let Kohan & Associates help with the process.  Visit our website at www.Suncoasthome.com.

To read more about other states from this article, click here. 

Now what? Post Hurricane Must Do's

Wind and water combine to form hurricanes that wreak havoc on our homes and in our community. Living near the coast makes it imperative to have proper home insurance coverage in advance and then know how to support claims following a storm.

Water is typically the culprit when it comes to hurricane damage.  Unfortunately though, flooding caused by surges or water often isn't covered under standard home insurance.  A separate flood insurance policy needs to be purchased.  If you live in a flood prone area and have a mortgage it could be a federal requirement for you to own flood insurance. Don't wait to buy until a storm is approaching as many companies require a 30 day waiting period.

Coastal homes often carry a hurricane deductible on the insurance policy. Other deductibles have a set dollar amount but hurricane deductibles are a percentage of the home's value.  Take a $300K dollar home for example.  If it has a 5% deductible the homeowner must pay $15,000 before the policy will pay anything. This is applicable when a home is destroyed or damaged by a hurricane. Call your insurance agent to determine if you have a hurricane deductible.

Following a hurricane, as suggested by www.Todayshomeowner.com, the following steps should be taken:
1. Photograph and document damage
2. Conduct emergency repairs
3. Secure home inventory
4. File a claim asap
5. Secure safe lodging

Remember that recovery takes time following the devastating losses associated with hurricanes. If you are prepared and plan in advance, putting your home back together will go so much smoother following the storm.

Three Remodeling Mistakes that Hurt Home Values

"Projects that take a home significantly beyond community norms are often not worth the cost when the owner sells the home," says Scott Robinson, president of the Appraisal Institute. "If the improvements don't match what's standard in a community, they'll be considered excessive." Lifestyle website CheatSheet.com highlights a few renovation mistakes that could inadvertently lower a home's resale value.

1. Letting minor damage go unfixed. To better protect your investment, touch up chipped paint, repair leaky faucets, and remove carpet stains.  "Your home has to look better on the day of the open house than it's ever looked before," says Steve Clark, a real estate professional in Los Angeles. "If the back door is covered in scratch marks from the dog, you have to fix that."

2. Failing to remove trees that pose safety hazards. Though trees can be a selling point, they need to be well-maintained and planted in the right spot in order to boost the value of a home.  Trees planted too close to a house could pose a fire hazard, or the tree's root systems could damage the home's foundation.  A tree planted in the right spot could not only be aesthetically pleasing but also potentially lower energy bills.

3. Garage conversions. A quarter of Americans say their garage is too cluttered to fit their car inside, according to a survey by Gladiator Garage Works. So some homeowners may decide to convert the garage into a bedroom or den - but that could be a big mistake at resale. While it may earn extra square footage, these spaces tend to be poorly insulated. Also, buyers may prefer the covered parking space instead.

Article posted in Realtor Mag from the National Association of Realtors.

Do you need advice on what to do before selling your home?  Kohan & Associates have decades of experience and would be happy to answer your questions.  Call us today at 727-565-1658. www.Suncoasthome.com

Looking For Some Easy Money?

Are you one of those people who needs proof that it is a Seller's market? Sellers in the second quarter of 2017 took in, on average, an additional $51,000 per sale over what they originally paid for their homes! According to a recent report from ATTOM Data Solutions, this is the highest return the housing market has seen in the last 10 years. These sale prices equate to about 26% more than owners spent on their property. In 2007, according to study, an average $57,000 increase was pocketed.

Even so, since 2000, homeowners are tending to stay in their homes an average of 8 years nationally.  This may be in part because while it is easy to sell a home now, it might not be so easy to find the next purchase. With limited homes on the market it might be your best time to make a move.  Kohan & Associates would love to help!  Visit us at www.suncoasthome.com today.

Moving Soon? Here's help!!

Moving can be an absolute hassle.  Between the need to clean out your current home, change your address and organize the new home, it can become overwhelming.  Well-meaning friends and family offer unsolicited advice but wouldn't it be great to pick an awesome mover or get help packing your belongings with the touch of your fingertips?  To help make the moving process easier perhaps you would like to make use of the following apps:

1. Hire a mover
Unpakt (https://www.unpakt.com/)

2. Home repair and chores
Taskrabbit (https://www.taskrabbit.com/)

3. Design floorplans from photos
MagicPlan (http://www.magic-plan.com/magicplan/)

4. Make to-do lists with reminders
Wunderlist (https://www.wunderlist.com/)

5. Digital organizer
Sortly (http://www.sortlyapp.com/)

6. Order and receive delivery on almost anything
Postmates (https://nextdoor.com/)

7. Hire professionals
Thumbtack (https://www.thumbtack.com)

So whether you are moving within the same neighborhood or across the country, hopefully these apps can help ease the burden. To make your move even easier, Kohan & Associates can help move you into or out of your home. Visit our webpage at WWW.SUNCOASTHOME.COM.