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        <title>Jupiter Real Estate Blog</title>
        <link>http://www.jupiterhomesales.com/blog/2018-01/</link>
        <description>Jupiter, FL Real Estate Blog, Palm Beach Real Estate News &amp; Info, Palm Beach Gardens Housing News</description>
<item>
    <guid>https://www.jupiterhomesales.com/blog/why-do-i-need-home-insurance.html</guid>
    <link>https://www.jupiterhomesales.com/blog/why-do-i-need-home-insurance.html</link>
        <author>Dylan@dylansnyder.com (Dylan Snyder)</author>
        <title>Why Do I Need Home Insurance?</title>
    <description> <![CDATA[ 





A Jupiter home is usually a homeowner's largest and most valuable asset. With home insurance, the property, structure, and the contents of the home have at least some degree of protection. These tips help homeowners understand what home insurance does and does not cover.


What Is Home Insurance?


The premise behind homeowners insurance is that people may be financially compromised by the loss of their homes due to certain circumstances. A devastating house fire could result in tens or hundreds of thousands of dollars in damage, a sum that not many people have readily available to pay. People purchase home insurance policies to provide them with a higher degree of protection than they can guarantee on their own. Homeowners pay regular premiums to an insurance provider, which sets rates based on the home's risk for damage, and the amount of coverage the homeowner prefers. Since claims on homeowners insurance policies are relatively infrequent, insurance companies can group people's insurance premiums together to balance out one person's loss.


Are There Different Types of Homeowners Insurance?


The type of insurance coverage that homeowners might choose depends on the kind of home they own, and the level of support they want after a burglary or disaster. There are unique home insurance policies for:




single-family homes


condominiums and co-ops


manufactured homes


landlords


tenants




When people purchase a new home and a homeowners insurance policy, they are typically encouraged to select a policy based on actual cash value or the replacement cost of the items that are damaged. The actual cash value of an item may be much lower than its replacement cost, due to natural depreciation. As such, owning an insurance policy that covers replacement cost is more likely to cover a homeowner's total expenses.


Does Home Insurance Cover All Damage?


Since insurance coverage varies widely from policy to policy, there may be many things that are not covered. Insurance companies typically set caps on the amount of liability they will shoulder on a particular policy. As a way to protect themselves in advance, homeowners should familiarize themselves with their policy's coverage limits, and determine if it will be adequate. Items that increase in value or that may be taken out of the home frequently, such as technological equipment or expensive jewelry, often require special coverage to be covered under the policy. In addition, many policies do not offer coverage on certain types of damage, such as earthquakes or flooding caused by natural disasters. Homeowners may be able to add extra protection for these types of incidents, through their insurance agent or another carrier.


Is Home Insurance the Same as a Home Warranty?


Home insurance and home warranties fulfill very different purposes. A home warranty serves as a basic protection for certain equipment, structures, and systems within the home. The coverage varies, but homeowners can often use a home warranty to save money on repairs or replacement of equipment that breaks soon after they buy the home. By comparison, homeowners insurance provides money for repair or replacement for items that were lost or damaged through unusual circumstances. For example, a faulty dishwasher might be covered by a home warranty, but would likely not be covered by an insurance policy for their Frenchman's Creek home.


Understanding the basics of home insurance is something that every homeowner should strive to do long before they ever need to make a claim. With this information, home buyers can search for and select the insurance policies that will work best for their needs.


 ]]> </description>
    <pubDate>Wed, 31 Jan 2018 10:28:00 -0500</pubDate>
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<item>
    <guid>https://www.jupiterhomesales.com/blog/the-true-value-of-residential-solar-panels.html</guid>
    <link>https://www.jupiterhomesales.com/blog/the-true-value-of-residential-solar-panels.html</link>
        <author>Dylan@dylansnyder.com (Dylan Snyder)</author>
        <title>The True Value of Residential Solar Panels</title>
    <description> <![CDATA[ 





The true value of solar panels is really tied up in protecting the planet for future generations. Reducing a home's carbon footprint may not save the world, but it's certainly a start. And yet, many homeowners still haven't adopted energy-efficient technology for a variety of reasons. They may not realize that their options have changed, or understand the cost-saving potential of solar power. See how solar technology has changed, and whether or not an investment would be worth it for you.


Initial Efforts


This is the probably the key factor on everyone's mind. It can be expensive to install solar panels, especially if homeowners aren't certain how long they're going to live in a home. Many companies give homeowners the option to rent solar panels, though again, the expense can be off-putting.


The exact amount of money saved will be based on how much direct sunlight a home gets, and how much electricity a household uses. If the solar panels aren't powerful enough to produce the necessary electricity, homeowners will have to fall back on conventional electricity to power their homes.


Cost Savings


For as expensive as solar power can be, the cost savings can also be considerable. But to really get the benefits, homeowners need to stay in their home for a while. In Massachusetts, the average cost of a 5KW solar system is about $14,000, but the cost savings over 20 years is expected to be around $30,000. In California, homeowners pay about $13,000 for installation, with an average savings of $28,000. Homeowners can visit the website DSIRE to learn more about their savings, along with other opportunities in their area.


Community Benefits


Homeowners may be able to lower the cost of their residential solar power panels with the help of local or state tax incentives. Many local leaders are exploring and implementing community solar, which allows people to invest in solar panels that will power multiple homes at the same time. All of the people in the program share the costs, which makes solar energy that much more financially accessible.


Solar power works by grouping solar cells together. The more cells there, the more power it generates. Community solar capitalizes off this technology by generating as much power as possible from any given number of panels.


Resale Considerations


Solar panels use no water or greenhouse gases to power a home, which can substantially lower the structure's environmental impact. Reports vary, but some have suggested that it can reduce a home's footprint by up to 95. This isn't just good news for the original buyer, it's also good news for future buyers of the home. The green movement isn't likely to lose momentum anytime time soon, which makes homes with solar panels particularly attractive to new buyers.


Between the desire to be environmentally responsible and the benefit of saving on electricity bills, Solar panels may be able to boost the value of a home by up to $20,000.


No matter why a homeowner is interested in solar panels, whether it's for the environment or for their power bills, they owe it to themselves to find out more. Solar energy technology now offers more options than ever to make smarter choices about their home, whether they live in Frenchman's Creek or elsewhere. It doesn't hurt that it may save a homeowner up to $30,000 in energy bills while increasing the value of their home up to $20,000


 ]]> </description>
    <pubDate>Wed, 24 Jan 2018 11:10:00 -0500</pubDate>
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    <guid>https://www.jupiterhomesales.com/blog/four-telltale-signs-its-time-to-repair-or-replace-home-roofing.html</guid>
    <link>https://www.jupiterhomesales.com/blog/four-telltale-signs-its-time-to-repair-or-replace-home-roofing.html</link>
        <author>Dylan@dylansnyder.com (Dylan Snyder)</author>
        <title>Four Telltale Signs It's Time to Repair or Replace Home Roofing</title>
    <description> <![CDATA[ 





Roofing systems are designed to last for years with the most common options such as asphalt, composite, clay and wood shingles lasting 35-30 years and metal roofs with lifespans of up to 50 years. However, the age of a Jupiter home's roof isn't necessarily the biggest indicator that it needs repairs or replacing, as there are a few signs of roofing damage likely to make themselves known before a complete replacement is necessary.


1. Signs of Asphalt Shingle Roof Damage


Asphalt shingles are the most popular residential roofing choice for Jupiter FL homes for sale, and they can exhibit several obvious signs of breakdown. These indicators include:




Cracked, curled or missing shingles


Dark, dirty shingles


Shingles that retain moisture


Accumulating asphalt granules in gutters




Asphalt roofing can often be repaired, but there are some drawbacks to taking this route. The newer shingles may not precisely match the old ones, leaving owners with a two-tone roof. If the damage is substantial and the roof is more than 15 years old, replacement may be the best option.


2. Indications of Wear and Deterioration


Special precautions are taken during installation to ensure that openings around roof objects such as exhaust and combustion vents, chimneys, pipes and skylights don't leak. However, the flashing and waterproofing layers can break down over time and cause serious damage to the roofing and substrate. Owners may notice exterior blistering or peeling paint near the roof line that is often caused by poor attic ventilation, which can also cause a roof's premature demise. Typically, localized wear can be repaired if caught early enough.


3. Leaks and Stains Within Interiors


Discovering water stains on ceilings and walls is definitely a sign of trouble. There are several potential problems causing these stains with the primary culprits typically being ruptured water pipes or deteriorating underlayment or flashing on the roof. Another signal that it could be sourced by the roof is to check in the attic for any signs of standing water or visible light present that could signify leaks. If there are multiple leaks or the damage to the roofing underlayment is serious, a roofing replacement may be necessary for your Abacoa real estate.


4. Sagging Roof Decking


Owners should periodically inspect roofing for signs of sagging. When roof rafters or decking is noticeably sagging, this could be due to excessive trapped moisture. This is a common issue in homes that lack continuous rafters that connect walls, but can also be due to a leaking roofing system. Sometimes, the sheathing beneath heavy roofing materials can be repaired if the sagging is localized. However, serious sags or complete moisture penetration may call for a new roof.


Determining Whether to Repair or Replace Roofing


Beyond the above recommendations, homeowners should also ask themselves the following questions to determine the best course of action.




How much are repairs versus the cost of replacement?


If living in the home for years to come is the plan, does it make more sense to invest in the full replacement now?


Has a new style of roofing captured their interest, such as solar ready roofing systems?


Is the damage covered by insurance, or will the insurer cover the cost of a new roof minus the deductible?




Homeowners seeking professional roofing advice should contact a local home improvement expert or an experienced real estate agent today.


 ]]> </description>
    <pubDate>Wed, 17 Jan 2018 12:02:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.jupiterhomesales.com/blog/how-to-navigate-pmi-how-private-mortgage-insurance-affects-home-buyers.html</guid>
    <link>https://www.jupiterhomesales.com/blog/how-to-navigate-pmi-how-private-mortgage-insurance-affects-home-buyers.html</link>
        <author>Dylan@dylansnyder.com (Dylan Snyder)</author>
        <title>How to Navigate PMI: How Private Mortgage Insurance Affects Home Buyers</title>
    <description> <![CDATA[ 





First-time home buyers (or buyers who haven't been in the market for quite some time) may be shocked to learn just how much it costs to buy a home. For a conventional loan, the magic down payment is 20 percent of the total purchase price. In an economy with ever-dwindling savings accounts, many people can't come up with this type of cash for the home of their dreams. It's why Private Mortgage Insurance (PMI) is available to buyers who don't want to delay their homeownership dreams.


Who It Protects


Even though a homeowner is paying for PMI, it's technically the lender's insurance policy and not the buyers. A lender wants to see as much equity in a home as possible. In the case of a 20 percent down payment, the buyer has already secured a fifth of the total home, and the lender is the recipient of a major chunk of change.


If a buyer only puts down 5 percent of the home's value though, then the lender has very little to fall back on if the buyer defaults on their loan. Yes, they can sell the property, but they'd still need to pay for a real estate agent, closing costs, taxes, etc. PMI is a type of private insurance the lender takes out, but they pass down the cost of that insurance to the home buyer.


How It Works


PMI isn't a straight-forward process because it depends on the lender the buyer chooses. Shopping around, asking questions, and negotiating rates are all excellent ways to get a better deal. Usually, the cost of PMI is between 0.5 and 1 percent of the home's purchase price (paid per year.) This means that a buyer could pay up to $2,000 extra a year on a $200,000 home.


Usually, when a homeowner reaches 20 percent equity of the home, they can drop the PMI. Homeowners are encouraged to put as much money toward their payments as possible until they reach that goal. Buyers can pay for PMI in one lump sum, or they can tack it onto their monthly mortgage payment. Should a buyer pay for the PMI in one sum and then move out before reaching 20 percent equity, they may not receive a refund.


Additional Factors


PMI is not always required if the buyer doesn't have 20 percent to put down on their home, but this option is not always recommended. Some lenders will hike up the interest rates instead of charging for PMI, which can ultimately cost more for the buyer in the long-run. It helps to talk to a tax specialist as well as a real estate expert before deciding. PMI is tax deductible as long as the adjusted gross income of the family is less than $109,000. One caveat is that it's not always easy to cancel PMI once a homeowner reaches 20 percent.


Some insurance companies require PMI for a certain amount of time, regardless of the equity in the home. Others require formal letters and statements to cancel that can take months to be approved. This is just another reason homeowners need to be ready to talk to several lenders and find out their process well in advance.


PMI is built to keep interest rates down by passing the risks down to individual buyers and not to the market at large. However, buyers should be careful about who they choose to partner with when buying a home, whether it's in Azure or elsewhere. To understand their options, homeowners should consult with several lenders about their requirements for this special type of insurance.


 ]]> </description>
    <pubDate>Wed, 10 Jan 2018 10:58:00 -0500</pubDate>
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<item>
    <guid>https://www.jupiterhomesales.com/blog/home-buying-contingencies-what-do-you-need-to-know.html</guid>
    <link>https://www.jupiterhomesales.com/blog/home-buying-contingencies-what-do-you-need-to-know.html</link>
        <author>Dylan@dylansnyder.com (Dylan Snyder)</author>
        <title>Home Buying Contingencies: What Do You Need To Know?</title>
    <description> <![CDATA[ 





When purchasing a new home, the agents may negotiate special conditions that must be met into the contract. These are called contingencies, and their purpose is to protect both buyers and sellers. Here is what buyers and sellers need to know about contingencies before agreeing to a contract.


Contingencies are Not Bad


Decades ago, contingencies used to have a stigma because they can lead to contracts being cancelled under certain circumstances. However, contingencies exist to protect both buyers and sellers. They can help prevent purchasing a home that isn’t safe or protect a seller from selling to a buyer who can’t find some a loan. Contingencies are just another checkbox that needs to be ticked before the sale of the home becomes official.


How Contingencies Protect Buyers and Sellers


Whether buying or selling a home, contingencies act as safety nets. Should all the contingencies be met, the transaction will go through as intended, but if the contingencies aren’t met, it allows the either the buyer or to back out of the deal without facing a penalty, depending on who was unable to meet the requirements of the agreement. The buyer faces the biggest penalties, and without the protection of a contingency, buyers would be unable to get their cash deposit returned upon cancellation of the contract. 


Types of Contingencies


There are many different types of contingencies that can help protect buyers and sellers, and some will vary depending on the state the home is located in. Here are some of the ones that may be encountered.




Appraisal: Sometimes contingencies are required by parties outside the buyer and seller, and an appraisal contingency is one of them. A home buyer with a home loan may be required to have the home appraised to make sure the home’s value is the same as the loan the buyer will take out.


Home Inspection: While it’s always recommended to have a home inspected before officially purchasing it, some contracts may make it obligatory by having it as a contingency.


Homeowners Association Documents: Many neighborhoods are part of a Homeowners Association (HOA) that charges monthly or yearly dues and makes special rules the people in the neighborhood have to follow. Providing documents will let the buyer know about the state of the HOA before committing to it.


Lead Paint: It’s a law that all buyers have ten days to inspect a home for lead-based paint, as many homes built before 1978 are at risk of having it, and this contingency will help protect buyers from purchasing a home that could be a risk to children and pets.


Loan: This contingency is quite common and requires that the buyer be approved for a home loan and protects the seller even if the buyer’s approval is revoked by their lender.


Mold and Asbestos: If the general home inspection spots things like mold or asbestos, it’s enough cause to have a licensed professional come diagnose and fix the problem. This sort of contingency will protect the buyer in the event that the seller doesn’t follow through with this.


Roof Inspection: It isn’t common for home inspectors go up onto a roof for fear of injuring either themselves or the roof, so a roof inspection contingency would require that a roofing specialist come and inspect it.




These are just some of the different types of contingencies. For more information about other types, be sure to do research or consult a real estate agent.


These are the basics of how contingencies work when purchasing a Turtle Creek home. For more information, be sure to consult an experienced real estate agent who is well versed in contracts and contingencies.


 ]]> </description>
    <pubDate>Wed, 03 Jan 2018 11:09:00 -0500</pubDate>
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