Is a Cash Offer Better Than a Financed Offer?

Is a Cash Offer Better Than a Financed Offer?I’ve received multiple offers on my house. One is cash, the other is financed. Which one should I accept?A: Both scenarios have pros and cons. The bottom line is not always the best deciding factor. Weigh these points before making a decision.How quickly do you want to close?Cash buyers can typically close very quickly – sometimes in as little as 7 days. Getting a loan can take longer. Have your agent speak with the loan officer. Find out how qualified the buyer is, if any of the underwriting process has been done, and what a realistic closing timeframe would be. These factors, and your timeline should inform your decision.Are you prepared to make repairs?Often (but not always!) cash buyers are prepared to buy a property, even if it needs some work done. They may not offer your full asking price, but you can negotiate. Buyers who are getting a loan might WANT to take the house as-is, but their mortgage company may have different standards. Certain repairs (i.e. health or safety issues) will be required before the buyer’s loan is approved. Also, buyers getting a loan will be required to get homeowner’s insurance before closing. An old roof, water heater or air conditioner might make it expensive or impossible to get insurance in Florida. This can also affect the buyer’s loan approval. In short, some repair requirements can cost you in the end, or kill the deal entirely. Weigh the cost of repairs against the offer’s net value and see where you come out.Will the property appraise for the amount that the buyer is offering?This a big one. Buyer’s will often offer more money than the asking price to try and compete with other offers, especially cash offers. Problems can arise if the house doesn’t appraise for the amount the lender is willing to loan. If the buyer can’t pay the difference out of their pocket, you will wind up with less net proceeds, or worse, a dead contract. Cash buyers don’t generally get an appraisal done. They purchase property based on their own assessment of value.A cash offer is not always better than a financed offer. A good Realtor® will be able to help you weigh the pros and cons of every offer.You know the one! Call me today for marketing that gets multiple offers, and for guidance that nets you the most on your sale.The post Is a Cash Offer Better Than a Financed Offer? appeared first on Sherell Wolford.

Easy Slow-Cooker Stroganoff Comfort Food for Winter

It’s been a chilly few days in the Sunshine State. We need comfort food! Try this delicious and easy slow-cooker stroganoff recipe for a quick weekday dinner.Ingredients:2 pounds beef chuck stew meat1 red onion, diced8 oz. cremini mushrooms, sliced1 (10.75 oz) can condensed cream of mushroom soup1/4 cup Worcestershire sauceSalt and pepper, to taste8 oz sour cream12 oz egg noodles, cooked1/4 cup fresh parsley, roughly choppedDirections:Add the beef, onion, mushrooms, cream of mushroom soup, and Worcestershire sauce to a slow cooker (such as a Crock-Pot) and season with salt and pepper. Stir, cover, and cook on high for 5 hours.Meanwhile, cook the egg noodles according to the package instructions.When the stroganoff is done cooking, stir in the sour cream. Serve this easy slow-cooker stroganoff over the egg noodles (or rice!) and garnish with the chopped parsley.Source: Food52.comHave a great recipe you’d like to share? Contact me to get it published in a future newsletter!The post Easy Slow-Cooker Stroganoff Comfort Food for Winter appeared first on Sherell Wolford.

Energy-Efficient Upgrades Save Money

Let’s face it, Central Florida is subject to extreme temperatures for most of the year. Running the A/C or the heat can get expensive, but there a some easy energy-efficient upgrades that can save you money AND keep you comfortable.Seal Those Leaks: One simple (and budget-friendly) step towards energy efficiency is sealing air leaks. Drafty doors and windows can allow cool air to rush out (or in during the winter). Invest in weatherstripping materials to seal those gaps. You won’t have to adjust the temperature as much, and your electric bill will thank you.Upgrade Your Insulation: If your insulation is outdated or insufficient, it’s time for an upgrade. Reinforcing insulation in your attic and walls can significantly minimize heat entry and exit, transforming your home into a more energy-efficient haven. This one-time investment will eventually pay off through lower energy bills.Try Programmable Thermostats: these gizmos are energy efficiency superheroes! Automatically adjusting temperatures based on whether or not you’re at home, your sleep preferences and time of year is like a magic bullet.Switch to LED Bulbs: Light your home and save money at the same time with LED bulbs. They use a lot less electricity than traditional bulbs but “burn” just as brightly. They also last longer (cha ching!)Upgrade to Energy Star Appliances: When it’s time to replace aging appliances, consider opting for Energy Star certified ones. These appliances consume less energy without compromising performance.Some upgrades may cost more up front, but in the long run, energy-efficient upgrades can save you money.The post Energy-Efficient Upgrades Save Money appeared first on Sherell Wolford.

Florida Real Estate Predictions for 2024

If the pandemic taught us anything it’s that there’s no way to predict the future. Not only did we not see it coming, most of us never dreamed it would initially have a POSITIVE effect on the economy. Real estate experts and economists looking into their crystal balls see the following future for Florida real estate. Here are the Florida real estate predictions for 2024.Prediction 1: A strong housing market will be driven by population and business growth. “We are back to a pre-pandemic normal pattern of sales,” says Dr. Brad O’Connor, Ph.D., chief economist, Florida Realtors®. Inventory is increasing which is slowing price growth. Even so, it will still be a sellers market.Prediction 2: 817 people will move to Florida per day beginning in April 2024 per the National Demographic Estimating Conference. O’Connor feels Florida is still a top choice for remote workers and still more affordable than the Northeast and West Coast. All of the largest metro areas in Florida are expected to grow by 10% or more, but Orlando and Southwest Florida may see 20% growth, predicts Ken H. Johnson, associate dean of graduate programs, College of Business, Florida Atlantic University in Boca Raton. He also predicts that businesses will move to Florida and bring jobs with them, further strengthening both the residential and commercial sectors.Prediction 3: New single and multi-family home builds will be well below demand.Johnson has observed that “we are having trouble building homes fast enough.” Still, there are a number of new-construction communities going up in the “exurbs” of Orlando where buyers can get more bang for their buck.Prediction 4: Pricing is not likely to come down because of availabilitysays Logan Mohtashami, lead analyst for HousingWire. Cash sales will be common because of higher interest rates, but experts predict that interest rates will come down steadily throughout 2024. The question is, will they help or hurt the economy?Disclaimer: fortune telling is for entertainment purposes only. Let’s revisit this article in December 2024 and see if the Florida real estate predictions for 2024 came true.Follow my One-Minute Market Update for more real estate news!Sources: Florida Association of Realtors®; Investor’s Business DailyThe post Florida Real Estate Predictions for 2024 appeared first on Sherell Wolford.