2130 Umbrella Tree Drive, Edgewater FL

210 Parktowne Blvd Edgewater FL 32132

$550,000

This listing includes units 7 and 8. Parcel ID’s 7452-23-00-0080 and 7452-23-00-0070. First class tilt wall masonry constructed within 10 hour delivery to most of Florida, very easy access to I-95, SR44 to I-4 corridor within minutes! Two 14 foot roll up doors with 20′ ceilings, a lobby, 2 bathrooms and an upstairs private office or conference room! One of the two bathrooms has a shower, and there is a separate storage room with wash sink. Rear back concrete panels were built so you can replace with windows for a beautiful lake front office.This is an excellent location in the best/rapidly growing Industrial park in Volusia county. Bring your business or use as your toy garage. CAM fee includes Landscape, Exterior lighting, exterior insurance, and water.

210 Parktowne Blvd Edgewater FL 32132  

What Can We Expect In 2021 For New Smyrna Beach?

2020 is over, and it was… well, an interesting year, to say the least. Not just in general either – it was one of those years for real estate that made experts walk back prior predictions and caused economists to burn more than a few of their white papers. Despite everything that happened, against all expectations, the housing market remained incredibly resistant to the issues of last year and looks to remain strong going forward. To say real estate had a benchmark year against all odds is kind of underselling it. 

 

So what happened, and what can we expect in 2021? I’ve addressed the peculiarity of 2020 in previous blogs, but the long and short of it is that housing prices remained high because of A.) the market’s position of relative strength at the beginning of the year, B.) already-low inventories that still fell short of demand, and C.) low interest rates and a softer-than-expected economic blow from the pandemic. For us in New Smyrna Beach, we also have the constant flow of Orlando buyers and sellers already owning or wanting property here, not to mention the fact that the pandemic has increased demand for the beach, water, and boating lifestyle. 

 

All of that added up to a resilient market and a strong floor on prices. As the pandemic looks to be drawing to a close, what are the predictions for this year? 

 

For starters, 2020 is going to echo into 2021. What I mean by that is nothing in real estate occurs in vacuum; to a certain extent, all of this is connected, and what happened last quarter affects the next three months. So the three factors I mentioned earlier are going to have an effect on what we see moving forward. 

 

If you’re selling, that’s good news. The reality is that there are far more buyers than there are homes available, and that was only exacerbated by the pandemic. I know that sounds counterintuitive because we’d ordinarily expect economic hardship to have the opposite effect, but while the pandemic didn’t have much of an effect on buyers searching for homes, what it did do is put occasional halts to construction, sometimes for months. This means that the balance of buyers to sellers remained largely unchanged; if anything, the supply is a lot lower relative to demand. 

 

Because of this, prices remain high and we’re definitely in a market that favors sellers. But what if you’re looking to buy? Are conditions against you? Not necessarily. The reason I say this is due to another factor that increased the number of buyers entering the market, which has in turn increased competition: low interest rates. I’ve written about this before as well, but when interest rates fall, mortgages become more affordable and more buyers find themselves in a position to buy homes. While this increases competition, it also makes conditions a lot more favorable for first-time buyers in particular. 

 

This means that while buyers may have to go through several offers and even outright bidding wars before they find their new home, ultimately they’ll save several thousand dollars on their mortgage and build equity more quickly. Some buyers I’ve worked with were even able to buy homes that would ordinarily be out of their price range precisely because of how much they saved on their loan. A few percentage points doesn’t look like much on paper, but it amounts to thousands of dollars in savings for borrowers, and interest rates are at historic lows. Most buyers do the math and decide to enter the market. 

 

So on a macro scale, that’s more or less what’s going on with the market as a whole, and while these factors are at play all across the United States, real estate is all about location. In other words, local markets behave differently based on – you guessed it – their location. As a real estate agent in central Florida, I’ve seen these general conditions play a role in our market while noting its own distinct behaviors. 

 

Assuming all of the things we’ve talked about so far still apply, how does New Smyrna Beach stand out? For one, central and south Florida never really have an “off season.” For a large part of the country, sales slow down in the cooler months after peaking in the summer. For us here in Florida – especially on the coasts – condos and tourism tend to keep the market hot year-round. Because of retirees looking for their “golden years” home, vacationers looking to rent beach houses and condos, and snowbirds from up north buying their winter getaways, New Smyrna Beach is constantly active in terms of real estate. 

 

Unsurprisingly, this also means New Smyrna Beach has a healthy tourism market, and because of this, investment is ramping up. Some of you who follow me on social media have noticed an uptick in the price of commercial properties recently, and that’s not a coincidence. The people that are already heavily invested in New Smyrna continue to do so by way of selling to purchase a larger condo or home because they are now accelerating their future plans or spending much more time here as the pandemic shifts habits. For some, these shifts are permanent and have had an enormous effect on the market here.

 

With heavy demand for both rental and purchased property, commercial interests have been taking note and investing heavily in Florida over the past few years, the pandemic notwithstanding. Tourists and vacationers mean money spent in everything from bars to chartered fishing, while residents appreciate their usual favorite brunch spot. And how are you supposed to go kayaking without the proper equipment? All of this adds up to businesses setting up shop and a lot of money being poured into New Smyrna Beach from both retail and commercial sources, and neither shows signs of letting up any time soon. 

 

Thinking of buying or selling this year? Let me know how I can help! As an agent in New Smyrna Beach for the past ten years, I know this city inside and out and can get your home sold or help you find your next one! You can find me on Instagram, or email me here!

 

  • Matt 

 

Matt Guarro is a REALTOR in the New Smyrna Beach, Edgewater, and Port Orange areas of Central Florida.

S. Wild Orange Dr. New Smyrna Beach FL 32168

$70,000 each

2 lots, which can be bought separately or together! Conveniently located with nice mature trees on this vacant lot and on a very quiet street. Easy access to the beach 5-10 minutes away, I-95, grocery stores and shopping. Adjoining lot on S. Wild Orange available as well giving you an opportunity for a large building lot over 3/4 of an acre at .80 acres. Additional lot MLS # 1061795 or TAX ID #734307020070 for a package deal.

3122 Orange Tree Dr. Edgewater FL 32141

$205,000
SOLID BLOCK home on high spacious lot close to grocery stores, restaurants, shopping, river parks, boat launches and the beach! 3BR/2BA with 1-car garage make this the perfect family home, starter, or investment rental property. Open floor plan, huge INDOOR laundry room with extra space for storage, master bedroom with ensuite bath, huge air conditioned Florida Room and an additional 400 SF screened porch for enjoying breezes in the shade. Large partially fenced yard for gardening or adding a pool. Nice architectural roof looks great. Schedule an appt. to see this home today!

130 Ranken Dr, Edgewater FL 32141

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Looking for space to park boats, trailers, or an RV in a wonderful Intracoastal frontage community? That is what you have here in this very desirable, quiet community where this home is one of only a few that are not on the water. The home sits on over a half acre with plenty of parking including a 2 car garage. One side is deep measuring 46′ x 11′ allowing you to park a boat or have a nice workshop. RV hookup on the right side of the home so you can stop paying storage fees. The custom owner built home has many nice features as well! Cathedral ceilings, fiberglass exterior doors, outdoor shower, large open floor plan, fireplace, generator hookup, hurricane shutters, SAFE ROOM which doubles as the second bathroom consisting of block walls and concrete a ceiling, indoor laundry room, and a spacious kitchen with lots of cabinets. HVAC replaced in Oct 2020 and appliances are 2017. Located in Flood Zone X! Come experience this wonderful opportunity today! Several Pictures are virtually staged.

$385,000

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What You Need to Know Before Buying a Condo (That Nobody Ever Told You)

As a realtor in Florida, a large portion of the transactions I’m a part of are those involving condos. It just comes with the territory (we are, after all, right on the beach). I’ve been doing it long enough to know exactly what most buyers have in mind – and what they don’t know – when they approach their first condo purchase.

Most of us know the basics of condos, but there are two distinguishing characteristics about transactions involving them that are regularly left out of the conversation.

So this week, I wanted to touch on a few crucial aspects of condo purchases that you absolutely need to know if you’re considering buying one as the season heats up.

You NEED an agent who has experience selling condos, because these are uncharted waters for you. In a word: contingencies.

Selling or buying a condo is an entirely different animal than selling or buying a single-family home. This is mostly due to the fact that a condo’s purchase contract carries a whole new set of contingencies that most single-family homeowners are going to be unfamiliar with. There are different contingencies than the common contingencies that are in a residential purchase and sale contract.

For example, as a buyer, there should be a separate addendum used in conjunction to the sales contract prior to closing. This addendum generally states that you understand and agree to the association rules and regulations and should give you an opportunity to review the bylaws, FAQ’s, and the budget just to name a few.

However, as a buyer, you may want to attach your offer to a set of your own contingencies, and again, these are unique to condo communities. You can, as a buyer, make your offer conditional on a review of those same community regulations and bylaws, and whether or not they’re A.) reasonable, and B.) satisfactory to you.

You can also make your offer contingent on a review of the minutes of the association’s meetings, a submission of their budget (because you’ll be paying fees and you have a right to how they’ll be managed), repair and renovation receipts, permits, assessments and the list goes on. This actually helps protect you as a buyer in case new information comes to light after you’ve put forth an offer.

Because of this, it’s important you work with a real estate agent who has experience selling condos! They’re going to know exactly how these things are done and will have the experience of past transactions – including buyer, seller, and association demands – to handle the unique complexity of the sale. They’ll also know how to guide you through the process and ensure important documents aren’t overlooked.

Financing is going to be a lot different than what you may be used to. It may not even be available at all from some lenders!

Financing of a condo isn’t the same as what you might typically encounter for an average single-family home. Some things still apply, obviously: it’s still important to get pre-approved prior to looking at properties. Obtaining financing can be tricky when it comes to purchasing a condo because some lenders and loan products don’t allow condo purchases.

Of course, you can still obtain a private mortgage for a condo purchase but that’s going to come at a higher cost to you one way or another, either in the form of higher interest rates, PMI (private mortgage insurance), or a larger down payment. The last is the most common scenario, and many private lenders will require a minimum of 20% down on a condo purchase. So if you don’t have a substantial amount of money saved for a down payment, buying a condo may not be the best fit for you.

Condos are often purchased with cash or higher down payments due to the regulations of lenders and programs. Down payment amounts are a big factor in the approval process of condo financing. Believe it or not, the amount you put down on a condo purchase determines whether the lender does a limited or a full review of that condo. This is done with what is called a condo questionnaire, which must be filled out by the association manger and asks for information like occupancy ratios, full-time vs. part-time owners, and budget questions. These things can make a big difference when purchasing a condo. So please stay in the know and call, text, or email me if I can help you navigate this complex buying process.

Condos can be a great investment for the right buyer, but they’re not for everyone. If you want to know more, leave a question in in the comments or email me using the sidebar to the right!

– Matt

The Fundamentals of Making an Offer on A Home

What’s the best way to go about making an offer on the home you’ve decided needs to be yours, after months of searching? The short answer is, not without knowing what you’re doing.

For one, you want to have an accurate picture of the fair value of this home. For another, your finances need to be in order. Then there are the practical transactional things like making your offer more compelling, negotiations, and finally money transfers and protection. Every step of the way, your real estate agent will be there to guide you through the process, so lean on their expertise while taking the time to understand exactly what’s going on.

 

Know both the market and the seller.

This is basically a half-and-half assessment here. You need to be able to offer a competitive price that’s comparable to other nearby homes on the market, but you also want to understand a bit about the seller’s psychology and motives in order to make the best offer with the greatest chance of being accepted. Start by researching local selling prices for homes comparable to the one you’re looking to buy. This will give you an idea of the fair market price.

But that’s not the full story. Check the history of the property, and pay attention to when the seller purchased it, and for how much. A seller who bought a home several years ago and has seen some appreciation in its value may be more willing to negotiate on price than a homeowner who purchased a home more recently.

Finally, take an objective look at things. Is the seller trying to sell quickly? They might take a lower offer. Do they need flexibility to find a new home, and could you rent the home to them while they look after you purchase it? That might make your offer stand out among those of other buyers. Speaking of other buyers, how hot is the market? If there are a bunch of buyers and relatively few sellers (such as now, but this varies by location), then the seller has more leverage and you may not be able to move them much lower than their asking price.

 

Get pre-approved for the amount you want to offer.

Most of us are going to need to take out a mortgage to buy a home, and sellers justifiably want to be assured that you can get one. When you are pre-approved by a lender before you submit your offer, you have a guarantee that they are willing to lend you a certain amount under specific terms and conditions. A seller will take an offer from a buyer who’s been pre-approved more seriously than one who hasn’t.

This is different than being pre-qualified. Being pre-qualified doesn’t really carry any weight, and it doesn’t guarantee to the seller that you’ll be able to get financing. Pre-approval is a laborious (and invasive) process where the lender will find out your creditworthiness as a borrower and assess the level of risk you present to them. In other words, if being preapproved is like having a driver’s license, being pre-qualified is like you just bought a unicycle.

 

Lean on the professionals.

Your real estate agent will be your primary confidant and counsel here. There’s a lot of legal jargon and a surprising lack of universality across different locations in terms of laws and regulations. You want to make sure that your written offer meets legal requirements, and they vary from state to state.

When it comes to what a formal offer itself should include, the basics are the date of the offer, the address and description of the property, the price offered for the home, finance terms such as loan details and the amount of the down payment, escrow details (more on that in a minute), closing date, actual possession date, and any contingencies, which would allow you to cancel a contract without penalty.

A good example of a contingency might be your right as the buyer to have the home appraised and inspected.

 

Protect your money

You’ll want to arrange to have the deposit held in an escrow account so that your money can be returned to you if the offer falls through. This is important because it’s how both parties ensure a smooth transfer of funds and physical property, not to mention other things like maintenance issues that come to light during inspection that may require the seller to leave some money in escrow.

 

Be prepared to negotiate.

At some point, you’ll have to deliver the offer to the seller or to their real estate agent. Ideally, they’d accept it. I can tell you from experience, and so can most homeowners, that it’s almost never that simple. You need to be prepared for the possibility that they’ll reject it outright, or come back with a counteroffer.

What would a counteroffer look like? They normally include changes like a revised sale price or closing/possession date. You can accept the counteroffer, or submit one of your own. In a sellers’ market, this is a little less likely to play in your favor, especially the longer the process drags on. In any case, it will continue until you and the seller both agree, or until the offer is rescinded. Once an offer is accepted by both parties and signed, it becomes a binding contract, so it’s absolutely imperative that you stay involved throughout the process and understand the offer’s contents before signing.

 

Buying a home is a tricky business, but it’s well worth your time and effort to be up to speed on things. If you need help buying a home, drop me a line in the submission form to the right, and I’m happy to answer any questions you might have.

 

– Matt

Why Curb Appeal Matters, And What It Means In The Digital Age

In this day and age, curb appeal is a little more crucial than it used to be, largely thanks to the Internet. Before, a prospective buyer might drive to your home and still give it a look even if something about the exterior turned them off because, hey, they made the drive and they might as well check the place out since they came all this way. These days, most buyers do their home shopping online, and if they’re not hooked in a matter of seconds (often less), they click over to the next listing.

First impressions have always mattered. After all, you only get one chance to pull them off. But they’re now more important than ever in a world increasingly driven by instant gratification with an ever-shortening attention span. If your listing doesn’t grab a buyer’s attention right away, they’re going to move on and forget about it forever.  

Before we get into how to adapt the term to the world we live in today, let’s revisit exactly what curb appeal means. It’s one of those phrases that have become a familiar part of our lexicon but when asked to define them precisely, a lot of people would be hard-pressed to do so.

Curb appeal is, in broad terms, how impressive a home looks from a casual observer’s point of view. In the past, buyers would absorb first impressions of homes while standing in the street or driving by, or what we can reasonably consider a curbside vantage point. Their initial impression from that point of view would usually determine whether or not they would go for an actual showing.

So sellers spent a lot of time to get that buyer up to the front door. They would be cleaning the exterior, adding things like shutters, repainting the front door, and landscaping and seeding their yard. The rule was that if the home didn’t appeal from the curb, buyers would move on to the next house, and curb appeal was therefore viewed as the single most important piece of the home sale puzzle.

 

Curb appeal is still crucial – but in a different way.

Today, since most buyers form their first impression from a home’s online photos, curb appeals matters in a slightly different sense. One could argue that it’s not just important in a different way, but that it’s even more important than it used to be.

Buyers will be scrolling through photos online as they go through dozens of listings per hour. This effectively lowers the perceived value of each choice they have. They’ll click over to the next listing if they don’t like what they see.

Further, buyers expect to see interior photos as they view your listing. So it’s not just about a home’s exterior anymore when it comes to first impressions; you effectively have to open up the entire place just to convince someone to drive to the address, let alone set foot in the door.

In other words, web appeal is the new curb appeal. And if your home doesn’t photograph well or isn’t properly staged, then curb appeal won’t even make a difference.

 

You need an agent who’s in step with the times.

Even great staging won’t help if you don’t present your home in the best possible light – inside and out – and that generally means professional photos. Buyers have become used to a certain standard, and that standard is a pleasing, well-shot set of viewable photos. Your listing should answer most questions a buyer might have before they even think to ask them, and that’s harder to do than it sounds.

You’ll want to get a seller’s agent who understands this, and lean on their expertise. I’ve written about this before, but your agent’s marketing makes all the difference in the world. They need to understand the importance of web appeal, and have methods that put that understanding into practice.

For example, homes with aerial photos sell 68% faster than those without. Homes with video listings sell 50% faster than those with just images. These are huge differences precisely because they deliver on the expectations that most buyers have. Your agent will know that neither you nor they can change the market’s expectations, but you can meet them in order to make the sale.

Unfortunately, this means you’re going to have to work a lot harder than you would have 15 or 20 years ago. In our ever-more-visual society, buyers make snap judgments about a home within seconds of clicking on the listing. The abundance of listings available on the web – even in a sellers’ market with low inventory – means that each listing has a lower perceived value and has more competition since other listings are a mere click away.

You only have one chance to make a good impression. The traditional definition of curb appeal still applies, but in order to get a buyer to view your home in person, your listing needs to look great on the web.

 

Are you thinking of selling your home this year, and wondering how you can use techniques like staging, professional photos, leading-edge marketing, videos, and aerial photos to get your home sold quickly and for the best possible price? Drop me a line in the comments or in the form on the right, and I’ll be happy to answer any questions you might have.

 

– Matt

2295 Hawks Cove Circle New Smyrna Beach FL 32168

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$239,000

This former model townhome is perfect for a new owner looking for low maintenance as their second or retirement home. As you walk in the front door the space is very inviting open to the kitchen and living areas. There is a separate private office that can be a 3rd bedroom complete with a closet. The owner has made some nice upgrades that include vinyl flooring in both bedrooms, high toilets, interior paint, UV light added to the AC that was serviced in Oct. 2020, and a roll down screen over the garage door. There is also a wonderful large screened in patio that has been tiled with a beautiful mosaic tile currently used as additional outdoor living area including an extended pavered area beyond the screen for grilling. Both bedrooms are completely separated at opposite ends of the unit both with bathroom en suites and a large walk in closet in the master. Start living the simple life all within 10 minutes to the beach and even closer to the grocery store, Home Depot and many others at your fingertips! Don’t forget the wonderful amenities as this community has a lovely pool, clubhouse, tennis court, and a pond which can be overlooked on the community gazebo where you can feed the ducks! This is a must see at this price point!

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