Click below to read more about Mike Jarvis:
Nov. 2nd - Upcoming Executive Club Meeting via #constantcontact
About the Boca Raton Executive Club:
The Boca Raton Executive Club has been designed as an influential networking group and was founded by Elliot Koolik of Koolik Group Realty in 2001. The concept behind the Club is to network with successful professionals from Woodfield Country Club along with many other high level executives in the greater Boca Raton area.
The next meeting will take place on Tuesday, November 2nd followed by a meeting on Wednesday, December 1st at 12 - noon in the Ballroom at Woodfield Country Club in Boca Raton, Florida. Each month, the club features a dynamic guest speaker while a buffet luncheon is served for the cost of $19.00, minus gratuity.
Each Executive Club candidate will be considered and is subject to approval by the membership committee and applications will be considered on a first come, first serve basis. Executive Club members receive maximum exposure and a chance to develop new business contacts within Boca Raton, Woodfield Country Club; as well as, the surrounding area.
Within the Club, we take great pride in the fact that all members work towards helping one another. One of the most important attributes of the club is its referral system. As business professionals, we realize that word of mouth is one of the strongest and greatest methods of reaching large groups of people. As we like to say, a referral is the greatest compliment we can receive.
To hear more about our guest speaker and to network with local professionals in the greater Boca Raton area, please contact Elliot Koolik at (561) 843-0918 or Jason Solodkin for more info (954) 873-1001.
To ensure a spot for the November 2nd and December 1st event, please email Michelle Clubb at MClubb@Koolik.com.
Wednesday, October 27, 2010
Friday, October 22, 2010
New Episode of What's Up Woodfield?
In this 5th episode of What's Up Woodfield? -- I have the great pleasure to interview fellow Woodfield Country Club resident in Boca Raton, Florida who has helped bring tremendous attention to the oil spill disaster in the Gulf.
Meet Dr. R. Mack Harrell; singer, songwriter, endocrinologist and WCC neighbor, who composed a poignant song titled "Oil and Water" which was selected as one of the top 5 songs in the USA Today song contest this past August.
To download "Oil and Water" or to hear more of Mack's incredible music, click here.
Wednesday, October 20, 2010
Boca Raton Real Estate Agent Launches Free Guide with Local Area & School Information
Whether new to the Boca Raton and Delray Beach area or just looking to explore the surrounding neighborhoods; look no further than Koolik Group Realty’s new Boca Raton Area Real Estate Guide. The guide showcases a variety of sought after homes for sale in Boca Raton in golf and tennis country club communities and luxury condominiums, such as Woodfield Country Club, Long Lake Estates, Boca Grove, and Mizner Grand in the Boca Raton area, in addition to Grande Orchid and Saturnia Isles in the Delray Beach area. The guide is available to download at http://www.koolik.com/ or click here!
Looking to move within Boca Raton but apprehensive about staying in a particular school district? Koolik Group Realty’s guide offers a comprehensive look into the Palm Beach County school district. The guide provides information and links to boundary maps, zoning, ratings, calendars, and test scores to help choose the right elementary, middle, or high school.
Boca Raton real estate agent and owner of Koolik Group Realty, Elliot Koolik, states that “the objective of this guide is to provide residents and visitors alike with a myriad of information including links, maps, a directory of golf courses and popular local attractions. We hope that this guide will serve as a one stop shop to further explore and get to know our area”
Looking to move within Boca Raton but apprehensive about staying in a particular school district? Koolik Group Realty’s guide offers a comprehensive look into the Palm Beach County school district. The guide provides information and links to boundary maps, zoning, ratings, calendars, and test scores to help choose the right elementary, middle, or high school.
Boca Raton real estate agent and owner of Koolik Group Realty, Elliot Koolik, states that “the objective of this guide is to provide residents and visitors alike with a myriad of information including links, maps, a directory of golf courses and popular local attractions. We hope that this guide will serve as a one stop shop to further explore and get to know our area”
Tuesday, October 12, 2010
Pink Ribbon Luncheon at Woodfield Country Club
President of Susan G. Komen for the Cure, Elizabeth Thompson, will be the guest speaker presenting on the topic: “What’s New in Breast Cancer Research.”
Susan G. Komen for the Cure is a global breast cancer organization that was founded to save lives and end breast cancer forever by empowering people, ensuring quality care for all and energizing science to find the cures. Diverse fundraisers such as “Race for the Cure,” and the “Annual Pink Ribbon Luncheon” help raise money for the South Florida Affiliate which serves Palm Beach, Martin and St. Lucie Counties. Up to 75% of money raised, stays in the community, while 25% goes for research, education, and legislation.
“The objective of the Pink Ribbon Luncheon is to and always will be education; after all, breast cancer knows no age or ethnicity, it attacks indiscriminately.” states Fern Duberman, Event Chairman and President of Special Effects Interiors, Inc.
Join honorary chairs, Lisa and Bob Marton for this fundraising event by registering now at http://www.komensouthflorida.org/ or call 561-514-3020. Alternatively, you can reach Fern Duberman at 561-445-3172
2010 Pink Ribbon Luncheon at Woodfield Country Club
Wednesday, October 20th, 2010 10 am
at Woodfield Country Club
3650 Club Place
Boca Raton, Florida
33496
To purchase tickets - click here to BUY ONLINE.
Friday, October 08, 2010
Think Pink Rocks Concert in Mizner Park, Boca Raton, FL this Saturday, October 9th, 2010
The concert is the 3rd Annual Think Pink Rocks Concert. It will be held this Saturday, October 9th starting at 7pm at Mizner Park in Boca Raton, Florida. The intention of the concert is to raise awareness for breast cancer. The line up of artists is remarkable and for only $40, you will be able to watch and listen to some incredible musical performances and you’ll also be able to help raise funds for many breast cancer charities.
As a son whose father has battled cancer and won the fight, I know the significance of making sure people understand that cancer affects anyone regardless of their race, color, financial status or religion. Although my family has not been touched personally by breast cancer, I know that breast cancer has touched and will touch many lives - including many of my friends.
Click here to continue and read more.
Tuesday, October 05, 2010
Building or Renovating - Why You Should Hire a General Contractor
Your home is your biggest investment. Whether you want to build a new home or renovate your current home, trying to decide if you should hire a general contractor or if you can do it yourself can often be difficult. Will it cost me more money? What about timing? Can I do this myself?
A general contractor should always be on the list of must haves. Many people believe that if they do the leg work themselves and hire the subcontractor(s) directly that they will save money. This is not always true. Often, a subcontractor will give a GC a lower price for the same contracted work since they know what job conditions to expect. They can assume that the scheduling will be organized and they can complete their scope of work in the most efficient manner. They also have ongoing relationships with your GC and are more apt to “throw something in” if there are minor changes as well as coming back for warranty work. In addition, your GC has access to multiple subcontractors for every item and can easily, quickly and competitively out bid your project, giving you the opportunity to save a lot of money.
We have all heard the horror stories of projects that seem simple but ultimately drag on for many months or even years. When you hire a GC, the experience in the industry can save you a tremendous amount of time. He/she knows how long each subcontractor will need to complete their work and who can be scheduled to work simultaneously. He/she knows how to schedule inspections properly and build rapport with inspectors to be sure that all work is being done to local building codes and passes inspection in a timely manner. Subcontractors will respond more quickly to a GC that gives him repeated work and will complete their job and return for warranty work as contracted.
Your GC is an expert in his/her field much like a doctor or lawyer is an expert in theirs. You would never consider doing your own medical procedures, nor should you assume you know how to supervise a plumber or electrician. Is the contractor using the correct materials? Is the job being done according to local building codes? Do you really need that “upgrade” or should that be included standard? In addition to those important issues, your GC will make sure subcontractors have the proper licenses and insurance, supply lien releases and permit all of the work so you will have no problems in the future.
Selecting an experienced GC like Ian Koolik of NMB Custom Homes and Renovations in Boca Raton, Florida will save you money, move your project along quickly, and make sure that you are thrilled with the end result. He will make your project seamless and easy. Ian is a licensed General Contractor, serving Florida for over 18 years. He specializes in custom residential projects in Boca Raton, Delray Beach and Highland Beach. His personal service, attention to detail and strong work ethic will make him the winning addition to your team.
To contact Ian Koolik of NMB Custom Homes and Renovations, LLC, email him at Ian@Koolik.com or call him directly at (561)-883-1576.
A general contractor should always be on the list of must haves. Many people believe that if they do the leg work themselves and hire the subcontractor(s) directly that they will save money. This is not always true. Often, a subcontractor will give a GC a lower price for the same contracted work since they know what job conditions to expect. They can assume that the scheduling will be organized and they can complete their scope of work in the most efficient manner. They also have ongoing relationships with your GC and are more apt to “throw something in” if there are minor changes as well as coming back for warranty work. In addition, your GC has access to multiple subcontractors for every item and can easily, quickly and competitively out bid your project, giving you the opportunity to save a lot of money.
We have all heard the horror stories of projects that seem simple but ultimately drag on for many months or even years. When you hire a GC, the experience in the industry can save you a tremendous amount of time. He/she knows how long each subcontractor will need to complete their work and who can be scheduled to work simultaneously. He/she knows how to schedule inspections properly and build rapport with inspectors to be sure that all work is being done to local building codes and passes inspection in a timely manner. Subcontractors will respond more quickly to a GC that gives him repeated work and will complete their job and return for warranty work as contracted.
Your GC is an expert in his/her field much like a doctor or lawyer is an expert in theirs. You would never consider doing your own medical procedures, nor should you assume you know how to supervise a plumber or electrician. Is the contractor using the correct materials? Is the job being done according to local building codes? Do you really need that “upgrade” or should that be included standard? In addition to those important issues, your GC will make sure subcontractors have the proper licenses and insurance, supply lien releases and permit all of the work so you will have no problems in the future.
Selecting an experienced GC like Ian Koolik of NMB Custom Homes and Renovations in Boca Raton, Florida will save you money, move your project along quickly, and make sure that you are thrilled with the end result. He will make your project seamless and easy. Ian is a licensed General Contractor, serving Florida for over 18 years. He specializes in custom residential projects in Boca Raton, Delray Beach and Highland Beach. His personal service, attention to detail and strong work ethic will make him the winning addition to your team.
To contact Ian Koolik of NMB Custom Homes and Renovations, LLC, email him at Ian@Koolik.com or call him directly at (561)-883-1576.
Thursday, September 30, 2010
Fran Drescher goes Pink At the 7th Annual Go Pink Luncheon
The Go Pink Luncheon is South Florida’s premier event for women’s health education and wellness. With amazing speakers, a scrumptious luncheon, and the fabulous Mercedes Benz of Delray Pink Daisy Pick Raffle, this year’s event promises to be another sell-out.
The Luncheon benefits Boca Raton Regional Hospital Foundation’s Go Pink Challenge, a fundraising initiative that raises awareness and funds in support of the Institute for Women’s Health & Wellness and the Lynn Cancer Institute.
Join Keynote Speaker, Fran Drescher and Guest Speaker, Louise Morrell, MD and the Boca Raton Regional Hospital Foundation to make a difference in the fight against breast cancer – at this not-to-be-missed women’s health event right here in our own community!
This 7th Annual Go Pink Luncheon will occur on Thursday, October 28th, 2010 from 11:30 am to 1:30 pm at the Boca Raton Resort & Club located at 501 E Camino Real in Boca Raton, Florida. Tickets are available for purchase at $125 per person.
For sponsorship and ticket information, please contact Kimberly Read at the Boca Raton Regional Hospital Foundation at 561.995.5168 or kread@brrh.com
Thursday, September 23, 2010
Koolik Group Realty Continues Seeing an Increase in International Buyers
Western Europe and the United Kingdom account for a 29% share of these foreign buyers while Latin America, including Mexico, the Caribbean, Central America and South America accounted for 16%. Although the Orlando-Kissimmee area accounts for 19% of homes bought by international buyers, the Ft-Lauderdale – Miami area is close behind with 17% of the buyers choosing to live in our area.
At Koolik Group Realty, this does not come as a shock. "International homeowners and investors are seeing the US real estate market as a great place to invest in, especially with the weak US dollar. Our office has been showing real estate properties to a wide array of individuals whether from Latin America, England or Germany," said Elliot Koolik, CEO of Koolik Group Realty. "Our realtors are helping people find primary homes, secondary homes; as well as, vacation homes.”
To read more highlights of this report, please click here.
Friday, August 27, 2010
Palm Beach County Residents have until September 16th, 2010 to Challenge the Proposed Tax Assessment
How do you know if you should challenge your assessment?
Look up your property’s proposed value & tax at: http://www.co.palm-beach.fl.us/papa/aspx/GeneralSearch/GeneralSearch.aspx
As you scroll to the bottom of your detailed property page, you will see that Palm Beach County has listed your property's proposed 2010 Appraised Value & Taxes.
If you feel that the value is not reflective of what your home value was around January 1st, 2010, then you may want to challenge the assessment.
To challenge the assessment:
1. Fill out for DR-486 by visiting: http://www.co.palm-beach.fl.us/papa/Forms/dr486fillable.pdf or you can fill out an online from at*: https://myvab.mypalmbeachclerk.com/2010/ .
2. Mail the form with a $15 non-refundable filing fee per parcel to: County Governmental Center Value Adjustment Board / 301 N Olive, Room 203 / West Palm Beach, FL 33401.
If you want to file in person, you can deliver your form & check to room 104 on the first floor. If you have questions, please call the VAB at (561)-355-6289.
*PLEASE NOTE: If you fill out the form online – the $15 payment must still be mailed. If payment does not reach the VAB by September 16th, your application will be considered null & void. (Koolik Group Realty is not offering legal advice.)
Look up your property’s proposed value & tax at: http://www.co.palm-beach.fl.us/papa/aspx/GeneralSearch/GeneralSearch.aspx
As you scroll to the bottom of your detailed property page, you will see that Palm Beach County has listed your property's proposed 2010 Appraised Value & Taxes.
If you feel that the value is not reflective of what your home value was around January 1st, 2010, then you may want to challenge the assessment.
To challenge the assessment:
1. Fill out for DR-486 by visiting: http://www.co.palm-beach.fl.us/papa/Forms/dr486fillable.pdf or you can fill out an online from at*: https://myvab.mypalmbeachclerk.com/2010/ .
2. Mail the form with a $15 non-refundable filing fee per parcel to: County Governmental Center Value Adjustment Board / 301 N Olive, Room 203 / West Palm Beach, FL 33401.
If you want to file in person, you can deliver your form & check to room 104 on the first floor. If you have questions, please call the VAB at (561)-355-6289.
*PLEASE NOTE: If you fill out the form online – the $15 payment must still be mailed. If payment does not reach the VAB by September 16th, your application will be considered null & void. (Koolik Group Realty is not offering legal advice.)
Monday, August 23, 2010
Koolik Continues the Adopt-A-Highway Program
Elliot Koolik of Koolik Group Realty recently announced that he will continue to work with Florida’s Department of Transportation (DOT) and the Adopt-A-Highway program.
The program allows any group or organization to adopt a two mile section of right-of-way along a state road or interchanges on Interstate-95 to collect litter helping to drastically reduce the cost of litter removal. Koolik has been supporting the Adopt-A-Highway program for over 14 years, adopting two different sections of roadway in Boca Raton, Florida to make sure that the surrounding area is well taken care of and litter-free for generations to come.
The program allows any group or organization to adopt a two mile section of right-of-way along a state road or interchanges on Interstate-95 to collect litter helping to drastically reduce the cost of litter removal. Koolik has been supporting the Adopt-A-Highway program for over 14 years, adopting two different sections of roadway in Boca Raton, Florida to make sure that the surrounding area is well taken care of and litter-free for generations to come.
Tuesday, August 03, 2010
25% Of Golf Course Homes For Sale in Palm Beach County Are Located In Boca Raton, Florida
Golf course homes have always been desirable, especially in the many country club communities found in South Palm Beach County, Florida such as Woodfield Country Club, St. Andrews Country Club and Mizner Country Club in Boca Raton.
According to Realtor, Elliot Koolik, “The first half of the year has seen an overall increase in homes for sale in comparison to the first half of 2009. However, in reviewing the popularity of golf course homes in Palm Beach County and in comparing that with Boca Raton; it is astonishing that roughly 25 % of all golf course homes for sale in Palm Beach County are located in Boca Raton, Florida.”
To find that perfect golf course home, contact an agent at Koolik Group Realty or feel free to fill out a “Contact Us” form online and we will be sure to contact you.
To find that perfect golf course home, contact an agent at Koolik Group Realty or feel free to fill out a “Contact Us” form online and we will be sure to contact you.
Wednesday, July 14, 2010
Elliot Koolik of Koolik Group Realty will be competing at the Ironman Florida 2010 while simultaneously raising funds for the Papanicolaou Corps for Cancer Research, Inc.
When Boca Raton realtor and resident Elliot Koolik is not taking clients to view homes for sale in Boca Raton, Florida, he is working diligently to bring awareness to the Papanicolaou Corps For Cancer Research, Inc. When this tri-athlete steps up to the starting line at the Ironman Florida on November 6th for the 2.4 mile swim, 112 mile bike ride, and 26.2 mile run he will not be competing just for himself, he will also be raising money for the Papanicolaou Corps for Cancer Research, Inc which will also benefit Boca Raton’s local unit: Woodfield Cancer Research. Koolik has been extremely passionate about the Woodfield Cancer Research Unit since its inception and will be racing to meet his fundraising goal of $10,000. Click here to read more.
Friday, June 04, 2010
Boca Raton: # 5 Popular Vacation Destination & 2nd Homeowners Paradise
At Koolik Group Realty, we have continued to see an increase of out of state buyers and foreign individuals looking to own a second residence or vacation home in Boca Raton, Florida. According to this recent article published on http://www.rismedia.com/, Boca Raton is becoming a very popular vacation hotspot! Click on the following link: http://bit.ly/BocaTop5 to read more and see why Boca Raton is at the number 5 spot on the “emerging travel hotspots” list!
Tuesday, May 18, 2010
South Palm Beach County Hurricane Preparation Tips & Links
As hurricane season is just a few weeks away, Floridians are cautioned to get ready for the worst; as it has been reported that this year will be one of the most active storm seasons on record.
Below are a few ideas that could help minimize damages and conserve your efforts:
First and foremost, check your insurance policies to see if you have flood insurance as flood damage is not usually covered by homeowners insurance. If you would like to see if you qualify for the National Flood Insurance Program, call 1888-CALL-FLOOD ext. 445.
Second, secure your home by making sure that you have impact resistant garage doors and windows or even hurricane shutters. If you have none of the above, contact a contractor to help in reinforcing the doors and windows.
Third, make sure to hurricane-proof your surroundings. Have a good look at the trees around your home. Do the trunks or major limbs look damaged or diseased? Are your trees leaning in a certain direction? Keep a close eye on this, as trees can often cause considerable damage to homes and cars. Make sure to also secure your outdoor belongings such as: trash bins, grills, toys, potted plants and yes, even garden gnomes.
Fourth, put together an emergency plan, not only for your family but also for your pets. Know where your important papers and prescription medications are located. Have the latter in waterproof containers or a watertight bag. Animals should have their leashes, carriers and papers readily available, as well.
It is also imperative to have a disaster supply kit on hand. Stock up on plenty of water; it has been recommended to stock at least 1 gallon of water, per person, per day, for the duration of 3-7 days. If possible, also arrange to have 3-7 days worth of food (for animals and people) available, such as non-perishable packaged or canned food and juices.
Last, but not least, remember to also pack your day to day essentials. Grab a can opener, cooking tools, paper plates, plastic utensils, blankets, pillows, seasonal clothing, a first aid kit, toiletries and hygiene items; as well as, flashlights with extra batteries, a back up cell phone charger/battery, cash, pet care items, a tool kit and a vehicle with a full tank of gas, just in case you need to evacuate at a minutes notice.
If history is set to repeat itself, then it is important that Floridians hope for the best, yet prepare for the worst.
Ways To Hurricane Proof Your Home:
Storm Tracking:
Weather Channel Tropical Update:
Palm Beach County Shelters:
http://www.pbcgov.com/publicsafety/emergencymanagement/shelters.htm Florida Shelters:
https://floridanss.communityos.org/cms/openshelters
Florida Hurricane News & Information Center Facebook Fan Page:
http://www.facebook.com/#!/group.php?gid=115075108521188&ref=ts
Wednesday, May 05, 2010
The Results are in: Boca Raton has been voted the # 2 City for Startup Businesses by Bloomberg Businessweek.
Our lovely city has been dubbed "Silicon Beach" as we hold on to our geeky past of being ultra tech-savvy individuals (thanks to IBM). With our population estimated around 74,000; almost half of that population holds a Bachelors Degree and for every 10,000 people that live here, Bloomberg states that there are 15 patents held per 10,000. Not bad, eh?
(http://images.businessweek.com/ss/10/04/0422_top_ten_startup_cities/3.htm).
Wednesday, April 07, 2010
The Expanded and Extended Homebuyer Tax Credit for Current and New Home Owners
First time home buyers are currently in a great position, not only are they able to take advantage of the higher homestead exemptions, and lower interest rates but also the new tax law to benefit real estate called the American Recovery and Reinvestment Act. The first time home buyer tax credit as enacted in November 2009 extends the credit until April 30, 2010. It states that as long as the purchaser has a written binding contract to purchase a home by April 30, 2010, the purchaser will have until July 1, 2010 to close. With the expansion of the Homebuyer Tax Credit toward the end of 2009, “Florida ranked third nationally in the number of people filing for the tax credit (105,608), trailing only California (160,325) and Texas (131,411)” according to the Associated Press.
These numbers are sure to have risen since then as the extended homeowner tax credit also expanded the credit to grant up to $6,500 to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. The tax credit will equal up to 10 per cent of the home purchase price up to $6500. Buyers may even construct a new home as a principal residence on a lot that has already been purchased to qualify for the credit. In this case, the date of purchase is calculated as the first day of move in.
Although the tax credit was constructed to give every one a piece of the American dream, limitations have been set. Tax law for real estate requires that the cost of the home purchased may not be priced above $800,000 to qualify for this. Note that the credit does not apply to those wishing to buy a home from ancestors or from lineal descendents. Individuals who are claimed as dependents or are under the age of 18 also do not qualify for the expanded tax credit.
The current homeowner definition for eligibility states that one must have used the home sold as a principal residence for five of the previous eight years for buyers to meet the criteria as long-time residents. If the home purchased is sold or those individuals move out of the residence within three years of the purchase date, the IRS will likely ask for the credit back. The tax credit is sure to stimulate the market and encourage spending for those who have done their due diligence. With that in mind, is it fair to say that those who do not take advantage of this extended homeowners tax credit opportunity and this market; may regret it in later years?
These numbers are sure to have risen since then as the extended homeowner tax credit also expanded the credit to grant up to $6,500 to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. The tax credit will equal up to 10 per cent of the home purchase price up to $6500. Buyers may even construct a new home as a principal residence on a lot that has already been purchased to qualify for the credit. In this case, the date of purchase is calculated as the first day of move in.
Although the tax credit was constructed to give every one a piece of the American dream, limitations have been set. Tax law for real estate requires that the cost of the home purchased may not be priced above $800,000 to qualify for this. Note that the credit does not apply to those wishing to buy a home from ancestors or from lineal descendents. Individuals who are claimed as dependents or are under the age of 18 also do not qualify for the expanded tax credit.
The current homeowner definition for eligibility states that one must have used the home sold as a principal residence for five of the previous eight years for buyers to meet the criteria as long-time residents. If the home purchased is sold or those individuals move out of the residence within three years of the purchase date, the IRS will likely ask for the credit back. The tax credit is sure to stimulate the market and encourage spending for those who have done their due diligence. With that in mind, is it fair to say that those who do not take advantage of this extended homeowners tax credit opportunity and this market; may regret it in later years?
Thursday, April 01, 2010
Starbucks Now Uses Iphone App to Accept Payments
When I searched to see if any Target stores around Boca Raton, Florida are participating in this new feature, it seems that most of them in our area of South Palm Beach County, FL are accepting this new form of payment.
I'm sure that consumers and coffee retailers can agree that this new application is very significant. While the Starbucks Card Mobile application seemed like a great idea (who doesn’t love the thought of having their iPhone scanned to pay for coffee?), in the past it could only be used at 16 retail stores in Seattle, Washington and Silicon Valley in Northern California. Now that over 1000 additional Starbucks inside Target stores have been added to the functionality of the application, this alternative payment option has definitely raised the status of the company.
I think this is a great example of pushing technology to the next level. Hopefully other retailers will jump on the bandwagon in this upcoming year. If you have an iPhone, I highly recommend driving to your nearest Target and taking a test drive of this new feature. To see a list of local Targets in the Boca Raton, Florida area, check out the site.
Tuesday, March 30, 2010
Expanded mortgage aid program should cut foreclosures
WASHINGTON – March 29, 2010 – The Obama administration’s revamped mortgage program may help more borrowers keep their homes, but economists say it could also delay foreclosures that can’t be prevented.
The program requires lenders to reduce mortgage payments for three to six months for unemployed homeowners. It also encourages mortgage servicers to consider reducing principal for borrowers who stay current on their loans.
In addition, some homeowners who owe more than their homes are worth may be able to refinance into loans backed by the Federal Housing Administration. The changes are designed to offer help to more borrowers than are getting aid under the existing program. But unemployed homeowners, for example, could still find themselves facing foreclosure if they remain unemployed when their forbearance period runs out.
“In six months, the lender will still have a non-performing loan and the borrower will still have a loan they can’t pay,” says Sylvia Alayon, vice president of operations for the Consumer Mortgage Audit Center, which does audits for lenders. “Foreclosures are still going to rise.”
Mark Zandi at Moody’s Economy.com estimates that the changes could spare between 1 million and 1.5 million homeowners from foreclosure. Other economists agree that the Home Affordable Modification Program (HAMP) delays some foreclosures, but that’s not necessarily a bad policy.
“What policymakers are doing is telling lenders they have to look at every loan through the lens of HAMP, and all that does is buy us time,” say Ajay Rajadhyaksha, head of U.S. fixed income strategy at Barclays Capital. “It’s probably the right policy perspective ... the price drop is less.”
Copyright © 2010 USA TODAY, a division of Gannett Co. Inc., Stephanie Armour. All rights reserved.
Edited by Koolik Group Realty
The program requires lenders to reduce mortgage payments for three to six months for unemployed homeowners. It also encourages mortgage servicers to consider reducing principal for borrowers who stay current on their loans.
In addition, some homeowners who owe more than their homes are worth may be able to refinance into loans backed by the Federal Housing Administration. The changes are designed to offer help to more borrowers than are getting aid under the existing program. But unemployed homeowners, for example, could still find themselves facing foreclosure if they remain unemployed when their forbearance period runs out.
“In six months, the lender will still have a non-performing loan and the borrower will still have a loan they can’t pay,” says Sylvia Alayon, vice president of operations for the Consumer Mortgage Audit Center, which does audits for lenders. “Foreclosures are still going to rise.”
Mark Zandi at Moody’s Economy.com estimates that the changes could spare between 1 million and 1.5 million homeowners from foreclosure. Other economists agree that the Home Affordable Modification Program (HAMP) delays some foreclosures, but that’s not necessarily a bad policy.
“What policymakers are doing is telling lenders they have to look at every loan through the lens of HAMP, and all that does is buy us time,” say Ajay Rajadhyaksha, head of U.S. fixed income strategy at Barclays Capital. “It’s probably the right policy perspective ... the price drop is less.”
Copyright © 2010 USA TODAY, a division of Gannett Co. Inc., Stephanie Armour. All rights reserved.
Edited by Koolik Group Realty
Monday, March 23, 2009
FL Existing Home Sales Rise
Florida’s existing home sales rose in February, making it the sixth consecutive month that sales activity showed increases in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR).
February’s statewide sales also increased over January’s figures in both the existing home and existing condo markets.Existing home sales rose 20 percent last month with a total of 9,858 homes sold statewide compared to 8,181 homes sold in February 2008, according to FAR. February’s statewide existing home sales were 16.7 percent higher than January’s statewide sales.
Thirteen of Florida’s metropolitan statistical areas (MSAs) reported increased existing-home sales in February. It marks the eighth month in a row that a number of markets have reported increased sales.
Significant variations in local markets continue, according to NAR’s latest housing outlook, which also notes that it will take time for the impact of the economic stimulus to show in housing data. “Some markets appear to have reached the tipping point of accelerating home buying,” said NAR Chief Economist Lawrence Yun. “Improvement from the economic stimulus isn’t likely to show as closed home sales before summer, although we may see an earlier lift from lower mortgage interest rates.”
NAR analysts estimate the impact of the federal economic stimulus package and lower interest rates on the housing market to be about 900,000 additional home sales in 2009 compared to conditions before the stimulus package. By the end of the year, NAR expects inventory to fall below an eight-month supply, which would be consistent with home price stabilization.
© 2009 FLORIDA ASSOCIATION OF REALTORS®
Edited by Elliot Koolik
February’s statewide sales also increased over January’s figures in both the existing home and existing condo markets.Existing home sales rose 20 percent last month with a total of 9,858 homes sold statewide compared to 8,181 homes sold in February 2008, according to FAR. February’s statewide existing home sales were 16.7 percent higher than January’s statewide sales.
Thirteen of Florida’s metropolitan statistical areas (MSAs) reported increased existing-home sales in February. It marks the eighth month in a row that a number of markets have reported increased sales.
Significant variations in local markets continue, according to NAR’s latest housing outlook, which also notes that it will take time for the impact of the economic stimulus to show in housing data. “Some markets appear to have reached the tipping point of accelerating home buying,” said NAR Chief Economist Lawrence Yun. “Improvement from the economic stimulus isn’t likely to show as closed home sales before summer, although we may see an earlier lift from lower mortgage interest rates.”
NAR analysts estimate the impact of the federal economic stimulus package and lower interest rates on the housing market to be about 900,000 additional home sales in 2009 compared to conditions before the stimulus package. By the end of the year, NAR expects inventory to fall below an eight-month supply, which would be consistent with home price stabilization.
© 2009 FLORIDA ASSOCIATION OF REALTORS®
Edited by Elliot Koolik
Monday, March 02, 2009
Now is the Time to Buy!
Every where you turn around, you can see, hear and read about affordable housing and programs for buyers. President Obama is now promising a first time home buyers credit up to 10% of the purchase price up to $8000 as well as lower mortgage costs and new loan programs. Coupled with historically lower interest rates, it’s no surprise that Florida’s overall existing home sales rose by 27% in January. In year to year comparison, this was the fifth straight month that sales have increased, according to the latest housing data released by the FAR.
“Buyers are looking at the real estate market and taking advantage of the current economy,” said Elliot Koolik. “People who sat on the sidelines in the past, are now realizing it’s a great time to buy because of the low interest rates, affordable prices and wide range of housing options available.”
Investors are now seeing great opportunities for themselves too. Mortgage giant, Fannie Mae has just announced that they are modifying their investor policy, which will now allow investors to own 5 to 10 properties depending on certain requirements, rather than the previous maximum of four properties. “Now is a great time to buy, said Wendy Koolik. “With more affordable options, we are ready to handle the influx of investors purchasing homes to increase their portfolio as well as vacation home owners.”
First time home buyers are in an extremely great position. Not only can they take advantage of the higher homestead exemption, low interest rates and the home buyers credit, but now Gov. Charlie Crist has proposed a new policy giving property tax breaks as much as $5000 to first time homebuyers. The proposal would tax only half the property value and then phase out the policy over the first five years of ownership.
For current owners, Gov Crist is proposing to ensure that homeowners do not receive higher property tax bills in times when house values are declining. He is also proposing to make it easier for homeowners to challenge tax assessments by requiring property appraisers to prove their work is valid, rather than leave the burden of proof on the homeowner.
“With so many policies working in our favor, it’s no wonder Palm Beach County sales have risen, said Steven Koolik, Broker of Koolik Group Realty. “Buyers are realizing that it will be a very long time before they will have the opportunity to own a home at the prices we are seeing in today’s market.”
In deed, it seems that those who don’t take advantage and buy now - may regret it in future years.
**Published on the front page of the Sun Sentinel Homespot.**
“Buyers are looking at the real estate market and taking advantage of the current economy,” said Elliot Koolik. “People who sat on the sidelines in the past, are now realizing it’s a great time to buy because of the low interest rates, affordable prices and wide range of housing options available.”
Investors are now seeing great opportunities for themselves too. Mortgage giant, Fannie Mae has just announced that they are modifying their investor policy, which will now allow investors to own 5 to 10 properties depending on certain requirements, rather than the previous maximum of four properties. “Now is a great time to buy, said Wendy Koolik. “With more affordable options, we are ready to handle the influx of investors purchasing homes to increase their portfolio as well as vacation home owners.”
First time home buyers are in an extremely great position. Not only can they take advantage of the higher homestead exemption, low interest rates and the home buyers credit, but now Gov. Charlie Crist has proposed a new policy giving property tax breaks as much as $5000 to first time homebuyers. The proposal would tax only half the property value and then phase out the policy over the first five years of ownership.
For current owners, Gov Crist is proposing to ensure that homeowners do not receive higher property tax bills in times when house values are declining. He is also proposing to make it easier for homeowners to challenge tax assessments by requiring property appraisers to prove their work is valid, rather than leave the burden of proof on the homeowner.
“With so many policies working in our favor, it’s no wonder Palm Beach County sales have risen, said Steven Koolik, Broker of Koolik Group Realty. “Buyers are realizing that it will be a very long time before they will have the opportunity to own a home at the prices we are seeing in today’s market.”
In deed, it seems that those who don’t take advantage and buy now - may regret it in future years.
**Published on the front page of the Sun Sentinel Homespot.**
Wednesday, February 18, 2009
Home Sales Gain in December
Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors®.
Existing-home sales - including single-family, townhomes, condominiums and co-ops - jumped 6.5 percent to a seasonally adjusted annual rate1 of 4.74 million units in December from a downwardly revised pace of 4.45 million units in November, but are 3.5 percent below the 4.91 million-unit pace in December 2007.
For all of 2008 there were 4,912,000 existing-home sales, which was 13.1 percent below the 5,652,000 transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales.
Lawrence Yun, NAR chief economist, said home prices continue to fall significantly. "It appears some buyers are taking advantage of much lower home prices," he said. "The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future."
Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply2 at the current sales pace, down from a 11.2-month supply in November.
Yun said the market is underperforming and hurting the broader economy. "We've added 25 million people to our population over the past decade and housing affordability conditions are the best we've seen since 1973, but household formation is much lower than expected," he said. "Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery."
The national median existing-home price3 for all housing types was $175,400 in December, which is 15.3 percent below December 2007 when the median was $207,000. There remains a significant downward distortion in the current median from a large number of distress sales at discounted prices, currently 45 percent of transactions; the median is where half of the homes sold for more and half sold for less. For all of 2008, the median price was $198,600, down 9.3 percent from $219,000 in 2007.
NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said it's an excellent time for first-time home buyers with good jobs. "The typical buyer plans to stay in their home for 10 years, which is the correct approach in today's market," he said. "With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than replacement construction costs in much of the country, buyers who've been on the fence should take a closer look at today's market." McMillan added that first-time buyers may want to consider an FHA loan, which offers downpayments of 3.5 percent on a safe 30-year fixed-rate mortgage.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.29 percent in December from 6.09 percent in November; the rate was 6.10 percent in December 2007. Last week, Freddie Mac reported the 30-year rate was 5.12 percent.
Single-family home sales rose 7.0 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November, but are 1.4 percent below a 4.32 million-unit pace in December 2007. For all of 2008, single-family sales fell 11.9 percent to 4,349,000.
The median existing single-family home price was $174,700 in December, down 14.8 percent from a year ago. For all of 2008, the single-family median was $197,100, which is 9.5 percent below 2007.
Existing condominium and co-op sales increased 2.1 percent to a seasonally adjusted annual rate of 480,000 units in December from 470,000 in November, but are 18.4 percent below the 588,000-unit level a year ago. For all of 2008, condo sales dropped 21.0 percent to 563,000 units.
The median existing condo price4 was $181,400 in December, down 18.3 percent from December 2007. For all of 2008, the median condo price was $210,000, which is 7.2 percent below 2007.
Regionally, existing-home sales in the Northeast slipped 1.4 percent to an annual pace of 720,000 in December, and are 14.3 percent below December 2007. The median price in the Northeast was $235,000, which is 7.8 percent lower than a year ago.
Existing-home sales in the Midwest increased 4.0 percent in December to a level of 1.04 million but are 10.3 percent below a year ago. The median price in the Midwest was $140,800, down 11.4 percent from December 2007.
In the South, existing-home sales rose 7.4 percent to an annual pace of 1.74 million in December, but are 11.2 percent lower than December 2007. The median price in the South was $158,600, which is down 8.0 percent from a year ago.
Existing-home sales in the West jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago. The median price in the West was $213,100, down 31.5 percent from December 2007.
Reprinted from REALTOR® Magazine January 2009 with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2009. All rights reserved.
Existing-home sales - including single-family, townhomes, condominiums and co-ops - jumped 6.5 percent to a seasonally adjusted annual rate1 of 4.74 million units in December from a downwardly revised pace of 4.45 million units in November, but are 3.5 percent below the 4.91 million-unit pace in December 2007.
For all of 2008 there were 4,912,000 existing-home sales, which was 13.1 percent below the 5,652,000 transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales.
Lawrence Yun, NAR chief economist, said home prices continue to fall significantly. "It appears some buyers are taking advantage of much lower home prices," he said. "The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future."
Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply2 at the current sales pace, down from a 11.2-month supply in November.
Yun said the market is underperforming and hurting the broader economy. "We've added 25 million people to our population over the past decade and housing affordability conditions are the best we've seen since 1973, but household formation is much lower than expected," he said. "Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery."
The national median existing-home price3 for all housing types was $175,400 in December, which is 15.3 percent below December 2007 when the median was $207,000. There remains a significant downward distortion in the current median from a large number of distress sales at discounted prices, currently 45 percent of transactions; the median is where half of the homes sold for more and half sold for less. For all of 2008, the median price was $198,600, down 9.3 percent from $219,000 in 2007.
NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said it's an excellent time for first-time home buyers with good jobs. "The typical buyer plans to stay in their home for 10 years, which is the correct approach in today's market," he said. "With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than replacement construction costs in much of the country, buyers who've been on the fence should take a closer look at today's market." McMillan added that first-time buyers may want to consider an FHA loan, which offers downpayments of 3.5 percent on a safe 30-year fixed-rate mortgage.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.29 percent in December from 6.09 percent in November; the rate was 6.10 percent in December 2007. Last week, Freddie Mac reported the 30-year rate was 5.12 percent.
Single-family home sales rose 7.0 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November, but are 1.4 percent below a 4.32 million-unit pace in December 2007. For all of 2008, single-family sales fell 11.9 percent to 4,349,000.
The median existing single-family home price was $174,700 in December, down 14.8 percent from a year ago. For all of 2008, the single-family median was $197,100, which is 9.5 percent below 2007.
Existing condominium and co-op sales increased 2.1 percent to a seasonally adjusted annual rate of 480,000 units in December from 470,000 in November, but are 18.4 percent below the 588,000-unit level a year ago. For all of 2008, condo sales dropped 21.0 percent to 563,000 units.
The median existing condo price4 was $181,400 in December, down 18.3 percent from December 2007. For all of 2008, the median condo price was $210,000, which is 7.2 percent below 2007.
Regionally, existing-home sales in the Northeast slipped 1.4 percent to an annual pace of 720,000 in December, and are 14.3 percent below December 2007. The median price in the Northeast was $235,000, which is 7.8 percent lower than a year ago.
Existing-home sales in the Midwest increased 4.0 percent in December to a level of 1.04 million but are 10.3 percent below a year ago. The median price in the Midwest was $140,800, down 11.4 percent from December 2007.
In the South, existing-home sales rose 7.4 percent to an annual pace of 1.74 million in December, but are 11.2 percent lower than December 2007. The median price in the South was $158,600, which is down 8.0 percent from a year ago.
Existing-home sales in the West jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago. The median price in the West was $213,100, down 31.5 percent from December 2007.
Reprinted from REALTOR® Magazine January 2009 with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2009. All rights reserved.
Friday, February 13, 2009
Kooliks Optimistic for 2009!
Every four years, the race for the Presidency brings a unique feeling of both opportunity and uncertainty. This upcoming year is forecasted to be one of many changes in all areas of the economy. "Right now, we are seeing the government work hard to bring forth new mortgage programs. says Elliot Koolik.
With plans to create future jobs, salary increases and the possibility of a new stimulus package, the housing market has a lot to look forward to. Recently, the government has discussed possibly using $50 to $100 billion of the remaining $700 billion Troubled Asset Relief Program to use towards reducing foreclosures and an $825 billion stimulus package.
“We’ve seen an increase in activity lately with a lot of foreign investors continuing to show their confidence in the U.S. real estate market.” says Elliot Koolik. According to a survey released by the Association of Foreign Investors in Real Estate, foreign investors are planning to spend significantly more this year than 2008. Foreign lenders are planning to increase loans by 58% in U.S. according to transactions completed in October.
Mortgage rates are now at a record low and buyers in Florida are taking advantage of the tremendous opportunity offered in the real estate market. The median sales price in Palm Beach county rose between October and November 2008 and the same is expected to come in the future months.
“Elliot and I know that the economy will continue to push through and begin to turn around. says Wendy Koolik. Florida is one of the most popular states and it’s a fact that tourists, both local and foreign, flock to Boca Raton to partake in our beautiful weather, sandy beaches and our wonderful cultural community.” “The fundamentals of why people want to live in the Boca Raton area have not changed. We always seem to have a constant flow of people, between the baby boomers, young families, relocations, and international buyers who want to live and visit our warmer weather. says Elliot Koolik. I believe that the Boca Raton area will be able to bounce back a lot faster than other communities.”
The Kooliks believe that it is important that we as a community have a positive attitude and remain optimistic. “We should not allow the media to create a “self-fulfilling” prophecy and paint a picture of our real estate market as doom and gloom. Deals are being done everyday when realistic buyers and sellers come together.” says Elliot Koolik.
“The reality is that it’s easy to be optimistic about the future when you think about the fact that there is no denying that the Greater Boca Raton/Delray Beach area is still and will always remain a top destination.” says Wendy Koolik.
With plans to create future jobs, salary increases and the possibility of a new stimulus package, the housing market has a lot to look forward to. Recently, the government has discussed possibly using $50 to $100 billion of the remaining $700 billion Troubled Asset Relief Program to use towards reducing foreclosures and an $825 billion stimulus package.
“We’ve seen an increase in activity lately with a lot of foreign investors continuing to show their confidence in the U.S. real estate market.” says Elliot Koolik. According to a survey released by the Association of Foreign Investors in Real Estate, foreign investors are planning to spend significantly more this year than 2008. Foreign lenders are planning to increase loans by 58% in U.S. according to transactions completed in October.
Mortgage rates are now at a record low and buyers in Florida are taking advantage of the tremendous opportunity offered in the real estate market. The median sales price in Palm Beach county rose between October and November 2008 and the same is expected to come in the future months.
“Elliot and I know that the economy will continue to push through and begin to turn around. says Wendy Koolik. Florida is one of the most popular states and it’s a fact that tourists, both local and foreign, flock to Boca Raton to partake in our beautiful weather, sandy beaches and our wonderful cultural community.” “The fundamentals of why people want to live in the Boca Raton area have not changed. We always seem to have a constant flow of people, between the baby boomers, young families, relocations, and international buyers who want to live and visit our warmer weather. says Elliot Koolik. I believe that the Boca Raton area will be able to bounce back a lot faster than other communities.”
The Kooliks believe that it is important that we as a community have a positive attitude and remain optimistic. “We should not allow the media to create a “self-fulfilling” prophecy and paint a picture of our real estate market as doom and gloom. Deals are being done everyday when realistic buyers and sellers come together.” says Elliot Koolik.
“The reality is that it’s easy to be optimistic about the future when you think about the fact that there is no denying that the Greater Boca Raton/Delray Beach area is still and will always remain a top destination.” says Wendy Koolik.
Wednesday, December 17, 2008
Why Real Estate Will Recover
Wendy and Elliot Koolik's View on why Real Estate will Recover
*As seen on the front page of Sun Sentinel's Home Spot*
Over the past year or so, the slow down in residential real estate sales has received considerable mention in the press, but Wendy and Elliot Koolik share an optimistic view on the future of the market. “Currently, buyers are motivated and sales are starting to accelerate. says Elliot Koolik. We have been busier with showings and have presented more offers to our sellers than in past months.”
According the to National Association of Realtors, pending home sales activity has surged as buyers are taking advantage of the affordable home prices and interest rates.
“What we’re seeing is the momentum of people taking advantage of the real estate market now that Amendment 1 has been passed and the rescue plan has been established.” says Wendy Koolik.
Since Amendment 1 was passed, Floridian’s have been taking advantage of the tax portability, while the rescue plan is giving the economy the closure it needed during the credit crisis. Also boosting the local real estate market, is the influx of interest and showings from foreign buyers due to the favorable exchange rates.
With the economy on its way to stabilizing and the government beginning to take control, the Koolik’s have chosen to take a positive view of the area’s real estate market. Our area is not only a tropical paradise, but it remains a favorite location for tourists to vacation and often invest in a first or second home.
Sellers are welcoming offers and willing to negotiate satisfactory deals while buyers are putting more cash down to offset loan rates while maintaining excellent tax deductions. The move is “on” in the real estate sector once more.
“Right now, it’s time for a change. says Elliot Koolik. With elections in the coming days, there is not doubt that the US economy is going to begin to see, hear and feel changes all around us and I believe it will all be for the better.”
*As seen on the front page of Sun Sentinel's Home Spot*
Over the past year or so, the slow down in residential real estate sales has received considerable mention in the press, but Wendy and Elliot Koolik share an optimistic view on the future of the market. “Currently, buyers are motivated and sales are starting to accelerate. says Elliot Koolik. We have been busier with showings and have presented more offers to our sellers than in past months.”
According the to National Association of Realtors, pending home sales activity has surged as buyers are taking advantage of the affordable home prices and interest rates.
“What we’re seeing is the momentum of people taking advantage of the real estate market now that Amendment 1 has been passed and the rescue plan has been established.” says Wendy Koolik.
Since Amendment 1 was passed, Floridian’s have been taking advantage of the tax portability, while the rescue plan is giving the economy the closure it needed during the credit crisis. Also boosting the local real estate market, is the influx of interest and showings from foreign buyers due to the favorable exchange rates.
With the economy on its way to stabilizing and the government beginning to take control, the Koolik’s have chosen to take a positive view of the area’s real estate market. Our area is not only a tropical paradise, but it remains a favorite location for tourists to vacation and often invest in a first or second home.
Sellers are welcoming offers and willing to negotiate satisfactory deals while buyers are putting more cash down to offset loan rates while maintaining excellent tax deductions. The move is “on” in the real estate sector once more.
“Right now, it’s time for a change. says Elliot Koolik. With elections in the coming days, there is not doubt that the US economy is going to begin to see, hear and feel changes all around us and I believe it will all be for the better.”
Thursday, September 25, 2008
Oct 15, 2008 Economic Stimulus Deadline
It's Not Too Late to Claim Your Economic Stimulus Payment
You must file a return by October 15 to receive a payment prior to year's end. It can take up to eight weeks for the IRS to process the return and issue the check.
People who have no tax filing requirement but have at least $3,000 in qualifying income should file a simple Form 1040A to claim the minimum payment of $300 ($600 for married couples) plus the $300 payment for each qualifying child younger than 17 as of Dec. 31, 2007. Qualifying income includes any combination of earned income, nontaxable combat pay as well as certain payments from the Social Security Administration, Department of Veterans’ Affairs and the Railroad Retirement Board.
For taxpayers who are required to file an income tax return, the IRS will use their 2007 tax return information to determine eligibility for economic stimulus payments of up to $600 ($1,200 for married couples) plus the $300 payment per each qualifying child.
Social Security benefits considered qualifying income include retirement, disability and survivor payments; Supplemental Security Income, known as SSI, is not qualifying income. Veterans Affairs benefits considered qualifying income include disability compensation, disability pension and survivor payments. Qualifying Railroad Retirement payments include the social security equivalent portion of Tier 1 benefits.
Taxpayers must have a valid Social Security Number to qualify for the payment; this includes both spouses filing a joint return and any dependents. Married members of the military may receive economic stimulus payments this fall, even if their spouses or children don’t have social security numbers, following the newly-enacted Heroes Earnings Assistance and Relief Tax Act of 2008. Also, people cannot be claimed or be eligible to be claimed as a dependent on another person’s tax return.
For more information about the Economic Stimulus payments visit the IRS Web site at IRS.gov.
As seen on taxact.com as Summertime Tax Tip 2008
You must file a return by October 15 to receive a payment prior to year's end. It can take up to eight weeks for the IRS to process the return and issue the check.
People who have no tax filing requirement but have at least $3,000 in qualifying income should file a simple Form 1040A to claim the minimum payment of $300 ($600 for married couples) plus the $300 payment for each qualifying child younger than 17 as of Dec. 31, 2007. Qualifying income includes any combination of earned income, nontaxable combat pay as well as certain payments from the Social Security Administration, Department of Veterans’ Affairs and the Railroad Retirement Board.
For taxpayers who are required to file an income tax return, the IRS will use their 2007 tax return information to determine eligibility for economic stimulus payments of up to $600 ($1,200 for married couples) plus the $300 payment per each qualifying child.
Social Security benefits considered qualifying income include retirement, disability and survivor payments; Supplemental Security Income, known as SSI, is not qualifying income. Veterans Affairs benefits considered qualifying income include disability compensation, disability pension and survivor payments. Qualifying Railroad Retirement payments include the social security equivalent portion of Tier 1 benefits.
Taxpayers must have a valid Social Security Number to qualify for the payment; this includes both spouses filing a joint return and any dependents. Married members of the military may receive economic stimulus payments this fall, even if their spouses or children don’t have social security numbers, following the newly-enacted Heroes Earnings Assistance and Relief Tax Act of 2008. Also, people cannot be claimed or be eligible to be claimed as a dependent on another person’s tax return.
For more information about the Economic Stimulus payments visit the IRS Web site at IRS.gov.
As seen on taxact.com as Summertime Tax Tip 2008
Monday, September 15, 2008
Existing Home Sales Rise
Existing Home Sales Hit 5 Month High
Existing-home sales - including single-family, townhomes, condominiums and co-ops - increased 3.1 percent in July to a seasonally adjusted annual rate of 5 million units from a downwardly revised level of 4.85 million in June. Sales were 13.2 percent lower than the 5.76 million-unit pace in July 2007.
NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said the up-and-down pattern may break soon.
"We hope the new tools in the hands of home buyers from the recently enacted housing stimulus package will spark a sustained sales uptrend in the months ahead," he said. "Buyers who've been on the sidelines should take a closer look at what's available to them now in terms of financing and incentives. Given some of the inventory on the market, we also strongly encourage buyers to get a professional home inspection."
Reprinted from REALTOR® Magazine [August, 2008] with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.
Thursday, August 07, 2008
New Buyer Tax Credit
Anybody who has been sitting on the sidelines hesitant to jump into real estate until conditions settle down should know these dates: April 9, 2008, through June 30, 2009.
They mark the eligibility time to qualify for the home-purchase tax credit created by the massive housing bill approved by Congress.
If you haven't owned a house during the past three years -- or are considering buying your first home -- and can go to closing before the end of June, you might be eligible for up to a $7,500 credit against your federal taxes for 2008 or 2009 ($3,750 if you file taxes as a single person).
The new credit is expected to benefit hundreds of thousands of buyers, although Congress set no limit on how many people can qualify.
Because the specifics of the credit changed during the past month as the Senate and House negotiated a compromise, here's a quick overview of the credit in its final form.
• The basic idea: To jump-start housing sales and clear unsold real-estate inventories, Congress is offering tax credits to pull in new purchasers. Buy any house -- new, old, any location or condition, any price range -- within the designated time period, and the IRS will cut up to $7,500 off your tax bill for either this year or next.
The tax credit is refundable, so if your tax bill is less than the credit amount, you get the difference back from the Treasury.
For example, if you're an eligible buyer of a home this year and you owe the IRS $4,000 on your total 2008 income-tax bill, your $7,500 tax credit could wipe out everything you owe plus get you a $3,500 refund.
• Eligibility rules: Do you own a home? If so, you're not eligible for the credit. Did you sell your home more than three years ago and rent? You are eligible.
The same is true if you've never owned a home. Close on a house before June 30, and you can claim a credit of up to 10 percent of the purchase price of the property up to a maximum of $7,500.
If your adjusted gross income exceeds $150,000 ($75,000 for singles), the credit maximum begins to phase down.
You can't claim the credit if you're a resident alien, financed the property using a state or local housing agency tax-exempt bond mortgage or don't plan to use the house as your principal residence.
• Payback: Unlike some past tax-credit programs, this one requires beneficiaries to repay the credit over an extended period.
Starting in the second tax year after purchase and continuing for up to 15 years, taxpayers are expected to make pro-rata repayments to the government on their federal filings.
During a 15-year payback period for the full $7,500 credit, the cost would be $500 a year. If you sell the house before the end of the repayment period and have no gain on the sale, you won't be expected to pay the credit back from the proceeds.
If you have a net gain, the "recapture" can't exceed the amount of your gain. In other words, the federal government is taking on all or much of the risk that the value of your new house won't increase over time.
At its core, the new tax credit functions much like an interest-free loan for up to $7,500. You pay the principal back in increments over time, with no interest charged.
How do you claim the credit?
If you pass the eligibility tests and buy before June 30, you simply request the credit on your tax return for either 2008 or 2009.
Even if you purchase in 2009, you can take the credit against your 2008 taxes by filing an amended return.
The home builders association will launch an educational Web site, www.federalhousingtaxcredit.com, with additional information for consumers.
They mark the eligibility time to qualify for the home-purchase tax credit created by the massive housing bill approved by Congress.
If you haven't owned a house during the past three years -- or are considering buying your first home -- and can go to closing before the end of June, you might be eligible for up to a $7,500 credit against your federal taxes for 2008 or 2009 ($3,750 if you file taxes as a single person).
The new credit is expected to benefit hundreds of thousands of buyers, although Congress set no limit on how many people can qualify.
Because the specifics of the credit changed during the past month as the Senate and House negotiated a compromise, here's a quick overview of the credit in its final form.
• The basic idea: To jump-start housing sales and clear unsold real-estate inventories, Congress is offering tax credits to pull in new purchasers. Buy any house -- new, old, any location or condition, any price range -- within the designated time period, and the IRS will cut up to $7,500 off your tax bill for either this year or next.
The tax credit is refundable, so if your tax bill is less than the credit amount, you get the difference back from the Treasury.
For example, if you're an eligible buyer of a home this year and you owe the IRS $4,000 on your total 2008 income-tax bill, your $7,500 tax credit could wipe out everything you owe plus get you a $3,500 refund.
• Eligibility rules: Do you own a home? If so, you're not eligible for the credit. Did you sell your home more than three years ago and rent? You are eligible.
The same is true if you've never owned a home. Close on a house before June 30, and you can claim a credit of up to 10 percent of the purchase price of the property up to a maximum of $7,500.
If your adjusted gross income exceeds $150,000 ($75,000 for singles), the credit maximum begins to phase down.
You can't claim the credit if you're a resident alien, financed the property using a state or local housing agency tax-exempt bond mortgage or don't plan to use the house as your principal residence.
• Payback: Unlike some past tax-credit programs, this one requires beneficiaries to repay the credit over an extended period.
Starting in the second tax year after purchase and continuing for up to 15 years, taxpayers are expected to make pro-rata repayments to the government on their federal filings.
During a 15-year payback period for the full $7,500 credit, the cost would be $500 a year. If you sell the house before the end of the repayment period and have no gain on the sale, you won't be expected to pay the credit back from the proceeds.
If you have a net gain, the "recapture" can't exceed the amount of your gain. In other words, the federal government is taking on all or much of the risk that the value of your new house won't increase over time.
At its core, the new tax credit functions much like an interest-free loan for up to $7,500. You pay the principal back in increments over time, with no interest charged.
How do you claim the credit?
If you pass the eligibility tests and buy before June 30, you simply request the credit on your tax return for either 2008 or 2009.
Even if you purchase in 2009, you can take the credit against your 2008 taxes by filing an amended return.
The home builders association will launch an educational Web site, www.federalhousingtaxcredit.com, with additional information for consumers.
Article by:
Kenneth R. Harney covers housing issues on Capitol Hill for the Washington Post Writers Group. You can write to him at P.O. Box 15281, Chevy Chase, Md. 20815 or send e-mail.
kenharney@earthlink.net
Wednesday, July 09, 2008
FL Housing Prediction
Jim Cramer predicts housing turnaround in Florida.
See the interview by clicking below:
http://www.thestreet.com/video/10421733/index.html#1612701980
See the interview by clicking below:
http://www.thestreet.com/video/10421733/index.html#1612701980
Friday, April 25, 2008
Market Trends
Palm Beach County Market Trends
With the holidays behind us and the arrival of Florida's beautiful spring weather,
I've noticed a real pick up in real estate activity.
What I notice the most - is the need for motivation on both sides: seller and buyer.
Once motivation is achieved - then transactions almost become effortless.
While the market is still challenging, I feel like things are definitely starting to
pick up.
Till next time,
Elliot
Tuesday, January 15, 2008
6 Reasons to Buy
6 Reasons to buy a home in the New Year
1. A Place To Live.
Your home is not only a place to live, but also a place to spend quality time with family and friends.
2. The Options You Want.
The great aspect of today’s market is that you have plenty of inventory to choose from in order to find a home with the options you are looking for.
3. Tax Savings.
Your home is one of the best tax shelters available, since mortgage interest and property tax can be deducted. Also, when you sell a home, the first $250,000 (if you’re single) or $500,000 (if you’re married) of profit is tax free.
4. Equity As A Long Term Investment.
The longer you own a home, the more equity you build in your home, as long as don’t try to use it.
5. Waiting Can Be Expensive.
Waiting for a lower purchase or interest rate is like playing Russian roulette. Don’t let it rob you of owning the home of your dreams or building personal wealth.
6. You Deserve It.
Your home is your refuge in a busy and stressful world. Knowing you can do whatever you want to make your home your own personally sanctuary is empowering – and you deserve it.
Your decision to purchase now is one you won’t regret.
(Originally written by Garrett A. Foster – edited by Elliot Koolik)
Monday, December 03, 2007
5 Acre Equestrian Estate
Koolik’s Are Proud To Presents 5 Acre Equestrian Estate
It is rare to find five acres in the Boca Raton/Delray Beach area combined with the benefit of an equestrian lifestyle. Centrally located off of Clint Moore Road, west of the Turnpike lies the quiet and serene neighborhood of Horseshoe Acres.
Elliot and Wendy Koolik are proud to represent the seller of this one of a kind property. This privately nestled Tudor style estate captivates you the moment you enter the gates and leaves you feeling transported to another part of Boca Raton. The majestic landscaping and tranquil lake affords a buyer serenity and peacefulness.
This prestigious and exquisite private estate is one of only 45 homes that create the prestigious Horseshoe Acres equestrian community. Horseshoe Acres is a community that consists of 190 landscaped acres with private roads that are perfect for horseback riding.
The home features more than 7500 living a/c square feet with 5 bedrooms, 5 full bathrooms and 1 half bath in the main estate and a private guest home with 1 bedroom, 1 full bathroom, kitchen facilities and a living room area.
As you walk into the home, you’ll notice the beautiful fireplace in the living room, as well the unique spiral staircase that leads to the upstairs bedrooms. The terrace located off of the master bedroom provides a beautiful scene canopied by mature landscaped trees.
You’ll love cooking in the gourmet kitchen complete with cherry wood cabinets, marble counters, top of the line appliances, Miele coffee maker, butlers pantry, wine rack, double oven, wood paneled refrigerator, island with vegetable sink, and gas stove.
The exterior of the estate includes a 4 car garage, a stable with 5 stalls, training rings and plenty of pastures for horses to graze. The home includes a new roof and new Pella impact glass.
“We think this estate offers the combined opportunity to live within the center of Boca Raton, yet live privately on 5 acres in an equestrian neighborhood with riding paths.” remarks Elliot Koolik. This is a great opportunity offered at $2,995,000.
ABOUT WENDY AND ELLIOT KOOLIK: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Boca Raton, Delray Beach, and Highland Beach. Wendy and Elliot Koolik have sold more than $370 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com, by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
Wednesday, October 31, 2007
Koolik's Receive Award
Koolik’s receive prestigious
Telly Award
Telly Award
Koolik Group Realty would like to congratulate Elliot and Wendy Koolik, Joan Grossman of T1 Productions and Jeff Galea of Boca Theatre Automation for receiving one of the highly prestigious Telly Awards for their Home Theatre and Automation show.
Founded in 1979, the Telly Awards is the premier award honoring outstanding local, regional, and cable TV commercials and programs, as well as the finest video and film productions. Today, the Telly is one of the most sought-after awards by industry leaders, from large international firms to local production companies and ad agencies.
The 27th Annual Telly Awards received a record 13,379 entries from all 50 states and around the world, this year's competition has been the most competitive and successful in the long history of the Telly Awards. A prestigious judging panel of 27 accomplished industry professionals, each a past Winner of a Silver Telly, upholds the historical standard of excellence that Telly represents.
“Wendy and I are very proud to have received this award from an impartial third-party recognizing our efforts and contribution towards educating the general public about buying and selling a home, states Elliot Koolik. We had hoped to appeal to consumers looking to increase their knowledge regarding home theatre and automation when we filmed the show with Jeff Galea of BTA and Joan Grossman of T1 Productions. After receiving this award, I’m sure we’ve achieved our goal.”
“Since Elliot and I have over 30 years of combined real estate experience, we know that buying, building and selling a home can be a very stressful time, says Wendy Koolik. Our goal was to create a series of shows where Elliot could consult with a wide range of experts in the real estate industry and address many topics pertaining to purchasing, selling and owning a home.”
Real Estate Today helps educate consumers - From architects to attorneys, builders to mortgage brokers and interior designers, this show helps people make informed decisions! Visit www.ElliotKoolik.tv to see the award winning Home Theatre & Automation show.
ABOUT WENDY AND ELLIOT KOOLIK:
Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Boca Raton, Delray Beach, and Highland Beach. Wendy and Elliot Koolik have sold more than $370 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com, by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
Tuesday, October 30, 2007
Tax Relief?
Voters Will Decide Fate of Tax Relief
On January 29th, 2008 Florida votes will vote to make several tax breaks part of the state constitution. It will take a 60 percent vote in order for the following ammendments to become finalized:
Double the $25,000 Homestead Exemption:
Homes valued at more than $50,000 would qualify for a homestead exemption worth $50,000. This exemption would not apply to school taxes, so it would average out to an extra $15,000 exemption. A typical homeowner would save about $220.
Provide Portability:
Permanent residents would be able to transfer their Save Our Homes accrued benefit, up to $500,000, when they move. This applies to anyone who sold a home in 2007. If the new home is more expensive, the entire Save Our Homes benefit can be transferred. If the new home is less expensive, the percentage of the benefit can be transferred.
Business Break:
Businesses would receive at $25,000 tangible personal property tax break.
Cap:
A 10 percent cap would apply to the annual assessments for non-homestead properties, including businesses, second homes, rental properties and vacant land.
Information provided by Sun-Sentinel
Friday, June 01, 2007
Koolik's Have a Positive Attitude!
Koolik’s Know Attitude is Everything!
“Everything is perception," states Elliot Koolik. "Although the market has become more challenging, negativity and pessimism are always counter productive. If buyers and sellers get the feeling that you’re not positive about the market, those negative feelings permeate everything. The key in selling during challenging times is to be proactive and innovative and in some respects, go back to old fashioned hard work and salesmanship.”
The Koolik’s practice this type of positive thinking in almost everything they do and this why they have been a successful and a dominant force in the Greater Boca Raton/Delray Beach market. The infrastructure they have in place allows them to provide their clients with outstanding service. This infrastructure includes an executive assistant to help the office run smooth, a realtor associate to make sure they never miss a showing, and a marketing intern. They alsoutilize multiple methods of marketing including a variety of websites including ElliotKoolik.com, Realtor.com and community specific websites. They also utilize other avenues of marketing for their clients including: billboards, full page Sun-Sentinel ad, TV show, magazine ads, direct mail, online newsletters, multi page brochures, and multiple pictures to name a few.
The Koolik’s have an unwavering positive attitude because the fundamentals of why people want to live in the Greater Boca Raton/Delray Beach area has not changed. Although we are not unaffected by the market situation, we are more insulated than most markets in South Florida because we have mostly high end users and not many speculators. This allows us to have a constant flow of people, including baby boomers, young families, relocations, and international buyers who want to live in a unique city full of history, architecture, shopping and warm weather.
“It’s easy to be optimistic because there is no denying that the Greater Boca Raton/Delray Beach area is still and will always remain a top destination.” says Wendy Koolik.
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Delray Beach luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Delray Beach, Boca Raton and Highland Beach. Since 2000, Wendy and Elliot Koolik have sold more than $365 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at
www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.comWednesday, May 30, 2007
Home Sales Jump!
Home Sales Jump!
New home purchases unexpectedly jumped in April, a sign low lending rates and incentives may be reviving demand.
Elliot Koolik, of Koolik Group Realty says, “I have seen more activity showing homes as well as more interest from buyers in recent months.”
Purchases rose 16 % last month, the Commerce Department said in Washington. There are fewer unsold homes than in the past. The number of homes for sale at the end of the month dropped from 540,000 in March to 532,000. Although the median price of a new home dropped 11 % last month, the lower prices and incentives offered to buyers are rousing the demand for homes. April's sales were the highest so far this year.
Home purchases rose across the United States, with the exception of the Midwest which dropped 4%. Compared with a year earlier, new home sales were down 11 %.
Because of stricter lending standards, the National Association of Realtors lowered its forecasts for home construction and sales. It forecast new-home sales to fall from 1.05 million in 2006 to 864,000 this year.
New home sales, which account for about 15 % of total home sales, are considered a better leading indicator of the market than existing home sales because they are recorded when a contract is signed rather than when the sales are closed. Most sales of existing homes are counted when a contract closes, usually a month or two later.
The leveling off of sales late last year has suggested stabilization and homebuilders are using sales incentives to lure buyers and whittle down the inventory of unsold homes.
From Bob Willis in Washington +1-202-624-1837 or bwillis@bloomberg.net, with reporting from Brian Louis in Chicago.
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Boca Raton, Delray Beach and Highland Beach. Since 2000, Wendy and Elliot Koolik have sold more than $339 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
Friday, May 11, 2007
Open Houses
Open house? Forget it, say savvy sellers
Boca Raton real estate agents will schedule an open house to showcase a property, but usually it’s because the seller insists. Usually the only people that show up are the immediate neighbors. Open houses in today’s market are not very effective.
Some real estate agents believe it is important to have an open house, but concede the once popular weekend ritual has lost ground to the Internet as a way to corral potential buyers.
Many people are used to searching for properties while sitting at their computer keyboards and the recent growth in online videos and virtual home tours has ramped up real estate marketing on the Web.
Open houses became popular in the 1970s when it was common for families to drive through neighborhoods after church Sunday mornings. Cookies and punch kept the kids occupied long enough for the parents to tour the homes, ask questions and consider making offers.
Priorities have shifted in recent years as families spend less time together. More condos and gated communities, and even rising gas prices have led to the downfall of open houses. Mostly though, home buyers are doing their research online.
Last year, 80 percent of buyers nationwide used the Internet to look for homes, up from 18 percent a decade ago, according to the National Association of Realtors. Many people look at photos and videos of houses online before working with an agent.
Open houses can work, but more houses are sold by people making their own arrangements from the Internet in this changing market.
Some say an open house does nothing for the seller because it generates little traffic and rarely results in the sale of the house. If anyone benefits, it’s the listing agent who meets potential new clients. Some also say that a rebound in the real estate market may help the open house return to favor, but it will not make open houses what they used to be.
Agents bear most of the costs to market a house, including fees to post properties on websites, newspaper advertisements, and create mailings. Some agents are even starting to cater meals for buyers’ agents as plans to showcase listings.
Networking and Internet marketing are keys to finding buyers in today’s real estate market.
As seen in the Sun Sentinel, Monday April 30, 2007 by Paul Owers.
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Boca Raton, Delray Beach and Highland Beach. Since 2000, Wendy and Elliot Koolik have sold more than $339 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
Boca Raton real estate agents will schedule an open house to showcase a property, but usually it’s because the seller insists. Usually the only people that show up are the immediate neighbors. Open houses in today’s market are not very effective.
Some real estate agents believe it is important to have an open house, but concede the once popular weekend ritual has lost ground to the Internet as a way to corral potential buyers.
Many people are used to searching for properties while sitting at their computer keyboards and the recent growth in online videos and virtual home tours has ramped up real estate marketing on the Web.
Open houses became popular in the 1970s when it was common for families to drive through neighborhoods after church Sunday mornings. Cookies and punch kept the kids occupied long enough for the parents to tour the homes, ask questions and consider making offers.
Priorities have shifted in recent years as families spend less time together. More condos and gated communities, and even rising gas prices have led to the downfall of open houses. Mostly though, home buyers are doing their research online.
Last year, 80 percent of buyers nationwide used the Internet to look for homes, up from 18 percent a decade ago, according to the National Association of Realtors. Many people look at photos and videos of houses online before working with an agent.
Open houses can work, but more houses are sold by people making their own arrangements from the Internet in this changing market.
Some say an open house does nothing for the seller because it generates little traffic and rarely results in the sale of the house. If anyone benefits, it’s the listing agent who meets potential new clients. Some also say that a rebound in the real estate market may help the open house return to favor, but it will not make open houses what they used to be.
Agents bear most of the costs to market a house, including fees to post properties on websites, newspaper advertisements, and create mailings. Some agents are even starting to cater meals for buyers’ agents as plans to showcase listings.
Networking and Internet marketing are keys to finding buyers in today’s real estate market.
As seen in the Sun Sentinel, Monday April 30, 2007 by Paul Owers.
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Boca Raton, Delray Beach and Highland Beach. Since 2000, Wendy and Elliot Koolik have sold more than $339 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com
Monday, April 02, 2007
Water Restrictions
Water Restrictions
The South Florida Water Management District has recently implemented the first mandatory water restrictions since 2001.
For homes on less than 5 acres of land, the rules for when and where you may water your lawn are quite simple:
Odd Numbered Addresses may water between 4 and 8am on Mondays, Wednesdays and Saturdays or between 5 and 7pm with a hand-held hose.
Even Numbered Addresses may water between 4 and 8am on Tuesdays, Thursdays and Sundays or between 5 and 7pm with a hand-held hose.
New Landscaping may be watered between 2 and 8am weekdays or anytime with a hand-held hose if it is less than 30 days old.
Things to remember during water restrictions:
1) Impatiens should be able to survive with the water restrictions.
2) Try to add landscaping that requires less water.
3) Adding organic material to the soil helps absorb and store water.
4) When replanting, use native plants and trees. They require less water because they are acclimated to the South Florida Weather.
5) Consider zeriscaping, which replaces grass with mulch and groundcovers and paths are made of stones. The term comes from the Greek word xeros, meaning dry.
6) Use mulch because it conserves moisture and inhibits growth of weeds.
7) You can still use your backyard fountain as long as it re-circulates the water.
8) Make sure your irrigation system is operating efficiently.
9) Possibly switch to a drip irrigation system because they water roots directly.
10) Try to install rain shut-off valves.
11) Don’t mow the grass too short. Set the mower blade at 4 inches instead of 3. Longer grass encourages longer roots. Leaving cuttings on the grass because it will help enrich the soil.
12) Use plastic or metal planters because they hold more water. Clay pots soak up the water your plants could be using. Remember, the bigger the pot, the less water the plant needs.
About Wendy and Elliot Koolik: Wendy and Elliot Koolik are recognized leaders in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Boca Raton, Delray Beach and Highland Beach. Since 2000, Wendy and Elliot Koolik have sold more than $339 million dollars in real estate by offering their clients a unique marketing plan for their home and an unparalleled level of customer service.
Wendy and Elliot are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.
For more information, contact Wendy and Elliot by phone at 561.393.9997 x113, online at www.ElliotKoolik.com , by e-mail at EKoolik@Koolik.com or visit their blog at www.bocaratonluxuryrealestate.blogspot.com.
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