The city of Live Oak, Florida, known as “The Caring Community”, is full of old Florida Charm. Established in 1958, Live Oak is surrounded on three sides by the famous Suwannee River. With a population of just over 7,000, Live Oak is the County seat of Suwannee County. Suwannee County, FL is home to some of the most beautiful natural assets in the state, including the famous Suwannee River and Twin Rivers State Forest. Live Oak, FL is also home to numerous cultural events throughout the year, including the Suwannee River Jam, art festivals, music shows and other festivities.

As experts in local real estate in Live Oak since 1975, Daniel Crapps and the hand selected professional realtors are ready to help you with your next real estate transaction in Live Oak. Whether you are looking to buy or sell vacant land, commercial property, single family residential homes, multi-family, mobile homes or investment property, we are the best choice for realtors in Live Oak, FL.

Learn more about Live Oak, Florida by following some of the helpful links below:

• Live Oak Daily Democrat Local Newspaper
• City of Live Oak City website
• Live Oak Suwannee Online
• Heritage Park & Gardens (The Crapps Mansion Historical Site and Cultural Venue)

In addition to being the County Seat of Columbia County, Florida, Lake City, FL is also known as “The Gateway” to Florida because it is the first city you approach when driving into Florida from Georgia on I-75. Lake City is conveniently located at the intersection of two major interstate highways, I-75 and I-10, making it a convenient location for transportation to any part of Florida. Driving to Jacksonville, Gainesville, or Tallahassee is convenient with easy access to these thorofares. Columbia County is also home to natural attractions such as the Suwannee River,

Lake City began as a Seminole Indian village, was settled in 1830 as Alligator Town and was later incorporated as a city in 1859. The name was said to be changed in 1859 because the Mayor’s wife would not “hang her curtains” in a town called Alligator, so it was more aptly named for its numerous bodies of water, including Alligator Lake, Lake DeSoto, Gwen Lake, Lake Hamburg, Lake Harper, Lake Isabella, and Watertown Lake.

Helpful Links for Lake City, Florida:

• City of Lake City Official Site
• Lake City Reporter Local Lake City Newspaper
• LakeCityWeather.Com LIVE Weather Conditions in Lake City
• Lake City Journal Online Community News
• Lake City Online Online Community News
• Columbia Amateur Radio Society Established in 1958 and all are still welcome to join
• Suwannee Online Suwannee Area
• Florida Index, historical newspaper for Lake City, Florida

City historical information was adapted from Lake City’s Wikipedia Page where you can find additional demographic and historical information.

(Lake City, Florida) – Daniel Crapps, Owner and Broker of the Daniel Crapps Agency, was recently recognized at the National Association of Realtors convention in San Francisco with the presentation of the prestigious Realtor Emeritus Status in recognition of 40+ years of continuous membership in the National Association of Realtors and his lasting contribution to the real estate profession in Lake City, Florida.

Daniel began his real estate career in 1973 with Coolidge Davis Realty in Gainesville, Florida. He opened the Daniel Crapps Agency in 1975 and has served the Lake City Board of Realtors as President. Daniel has received numerous awards throughout his distinguished career, including Realtor of the Year in 2003.

DON’T GET “PRE-QUALIFIED”!

Do you want to get the best house you can for the least amount of money? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller. In years past, I always recommended that buyers get “pre-qualified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. Sellers are aware that such certificates are WORTHLESS, and here’s why! None of the information has been verified! Oftentimes-unknown problems surface! Some of the problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc. So the way to make a strong offer today is to get “pre-approved”. This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few days to a few weeks depending on your situation. It’s VERY POWERFUL and a weapon I recommend all my clients have in their negotiating arsenal.

SELL FIRST, THEN BUY

If you have a house to sell, sell it before selecting a house to buy! I haven’t seen a contingent sale work in the last 3 years, unless it’s with a new home builder who has other houses to sell and can afford to put one on a contingency. Let’s pretend that we go out looking for the perfect house for you. We find it and you love it! Now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell your house. The seller figures that’s a risky deal, since he might pass up a buyer who DOESN’T have to sell a house while he’s waiting for you. So he says OK, he’ll do the contingency but it has to be a full price offer! So you see, you paid more for the house than you could have because of the contingency. Now you have to sell your existing house, and in a hurry! Otherwise you lose the dream house! So to sell quickly you might take an offer that’s lower than if you had more time. The bottom line is that buying before selling might cost you TENS OF THOUSANDS of dollars. I always recommend that you sell first, then buy. If you’re concerned that there is not a house on the market for you, then go on a window- shopping trip. You can identify possible houses and locations without falling in love with a specific house. If you feel confident after that then put your house on the market. Another tactic is to make the sale “subject to seller finding suitable housing”. Adding this phrase to the listing means that WHEN YOU DO FIND A BUYER, you will have some time to find the new place. If you don’t find anything to your liking, you don’t have to sell your present home.

PLAY THE GAME OF NINES

Before house hunting, make a list of nine things you want in the new place. Then make a list of the nine things you don’t want. I call this “NINE OF THIS AND NONE OF THAT”. You can use this list as a scorecard to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you’re comparing dozens of homes. When house hunting, keep in mind the difference between “SKIN AND BONES”. The BONES are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. The SKIN represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. I always recommend that you imagine each house as if it were vacant. Consider each house on its underlying merits, not the seller’s decorating skills.

DON’T BE PUSHED INTO ANY HOUSE

Your agent should show you everything available that meets your requirements. Don’t make a decision on a house until you feel that you’ve seen enough to pick the best one. Go to the Multiple Listing computer with your agent to make sure that you are getting a COMPLETE list. In the late 1980’s, homes were selling quickly, usually a few days after listing. In that kind of market, agents advised their clients to make an offer ON THE SPOT if they liked the house. That was good advice at the time. Today there isn’t always this urgency, unless a home is drastically under priced, and you’ll know if it is. Don’t forget to check into the SCHOOL DISTRICTS of the area you’re considering. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc. You can get this information from your agent or directly from the school.

STOP CALLING ADS!

A word of caution – agents create ads solely to make the phone ring! Many of the homes have some drawback that’s not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What’s not mentioned in the ad is usually more important than what is. For this reason, I want you to be very careful when reading ads. Remember that the person writing the ad is representing the seller and not you! The most important thing you can do is have someone on your side looking out for your best interests. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. So whether you decide to work with me or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer’s broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper. Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? These “great deals” go to those people who are committed to working with one agent. When an agent hears of a great buy, who do you think he’s going to call? His client, who he has a legal obligation to work hard for you, or someone who just called on the phone and said “keep your eyes open”? So to get the best buy on a property, I always recommend that you hire your own agent and stick with her.

MISTAKE #1. COMPLACENT MARKETING WHEN SELLING A HOME

When selling your home there are no guarantees that the ultimate buyer of your home will have simply walked through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer in the shortest period of time. Ask your Realtor to list for you all of the ways he/she intends to market your home and on what time-line. Also, be sure to ask about the home being advertised on the Internet.

MISTAKE #2. TAKING FOR GRANTED THE “CURB APPEAL” OF YOUR HOME

When you’re preparing your house for sale, remember the importance of first impressions. A buyer’s first impression can make or break whether they even want to go inside for a look. It is estimated that more than half of all houses are sold before the buyers even get out of their cars. With that in mind, be sure to stand outside of your home and take a realistic “fresh look” and then ask yourself what can be done to make the “curb appeal” improve. Also ask your Realtor’s opinion as to how to improve the curb appeal. It could make a huge difference in your final sales price.

MISTAKE #3. FORGETTING ABOUT HEALTH AND SAFETY ISSUES

Be upfront and disclose to your Realtor any problems with the property. The problems are going to be discovered anyway. A decade ago, health and safety issues were rarely a part of the typical real estate transaction. Today, however, it’s common for inspections relating to health, safety, and even environmental concerns to be a part of most sales contracts. Moreover, in many states, the seller must disclosure to the buyer any knowledge of existing property problems. In many cases, these issues have been or can be factored into the home’s listing price.

MISTAKE #4. FORGETTING WHAT YOU WOULD WANT TO SEE IF YOU WERE THE BUYER OF YOUR HOME

Remember that although people can be different in personality, they tend to be the same when it comes to expectations at someone else’s expense. In other words, a prospective buyer would probably like to see a perfect home from top to bottom, inside and out, when it comes to your home. Try to do as many of the following items as possible to improve the likelihood of your home sale in an expedient way.

ON THE OUTSIDE

1. Sweep front walkway.
2. Remove newspapers, bikes and toys.
3. Park extra cars away from the property.
4. Trim back the shrubs.
5. Apply fresh, clean paint throughout.
6. Clean windows and window coverings throughout.
7. Keep plumbing and all appliances in working order.
8. Maintain all sealant (window, tub, shower, sink, etc.) in good condition.
9. Make sure roof and gutters are clean and in good condition.
10. Mow the lawn frequently and plant flowers.
11. Keep pet areas clean.

ON THE INSIDE

1. The kitchen and bathroom should shine.
2. Quick once-over with the vacuum; carpets should be clean.
3. Place fresh flowers in the main rooms.
4. Put dishes away, unless setting a formal display for decoration.
5. Make all beds and put all clothes away.
6. Open the drapes and turn on lights for a brighter feel.
7. Straighten closets.
8. Put toys away.
9. Turn off television.
10. Play soft music on the radio/stereo.
11. Keep pets out of the way and pet areas clean and odor-free.
12. Secure jewelry, cash, prescription medication and other valuables.
13. Enhance the spaciousness of each room.

MISTAKE #5. THINKING YOU NEED TO BE IN THE HOME TO EXPLAIN THINGS TO A PROSPECTIVE BUYER

You will be better served if you allow your Realtor to do their job without you there. Most potential buyers usually feel more comfortable if they can speak freely to the real estate professional without the owners being present. If people unaccompanied by an agent request to see your property, you should refer them to your real estate professional for an appointment.

MISTAKE #6. NOT KNOWING HOW TO PRICE YOUR HOME TO SELL

Perhaps the most challenging aspect of selling a home is listing it at the correct price. It’s one of several areas where the assistance of a skilled real estate agent can more than pay for itself. Listing the home too high can be as bad as too low. If the listing price is too high, you’ll miss out on a percentage of buyers looking in the price range where your home should be. This is the flaw in thinking that you’ll always have the opportunity to accept a lower offer. Chances are the offers won’t even come in, because the buyers who would be most interested in your home have been scared off by the price and aren’t even taking the time to look. By the time the price is corrected, you’ve already lost exposure to a large group of potential buyers. The listing price becomes even trickier to set when prices are quickly rising or falling. It’s critical to be aware of where and how fast the market is moving – both when setting the price and when negotiating an offer. Again, an experienced, well-trained agent is always in touch with market trends – often even to a greater extent than appraisers, who typically focus on what a property is worth if sold as-is, right now.

MISTAKE #7. NOT PLANNING YOUR MOVE EARLIER ENOUGH

Many sellers simply don’t plan their move early enough and then feel totally overwhelmed at the time of moving out of the house. If you are able to move at any time of the year, don’t wait until summer, the peak-moving season. Consider also that the first and last few days of the month are extra busy. If you plan to sell your house, get it on the market as soon as possible. Keep a record of all expenses related to the move, some of which may be tax deductible. Fill out the Personal Household Inventory for each room. This is important for establishing the amount of declared valuation for the shipment and as a permanent inventory for insurance purposes. List, as nearly as possible, the year of purchase and original cost of each item. Attach any invoices or records of purchase to the completed inventory. Prepare a separate high-value inventory if the shipment will contain articles of “extraordinary” value. The following list includes items that might fall into this category:

• Antiques
• Art Collections
• Cameras
• China Collections
• Computer Equipment
• Crystal
• Figurines
• Firearms
• Jewelry
• Manuscripts
• Oriental Rugs
• Silver
• Stones Or Gems
• Tapestries
• TVs Or Stereos

Also, unless you have been given a binding moving estimate where a firm cost is established in advance, the exact cost of a move cannot be determined until after the shipment has been loaded on the van and weighed. The weight on which charges are based is calculated by weighing the van before and after loading. The total cost of the move will include transportation charges, any charges for declared valuation, plus charges for any extra services performed at your request. All of these charges are based on tariff rate schedules.

MISTAKE #8. USING A “CONVENIENT” REALTOR RATHER THAN USING AN EXPERIENCED REALTOR

When working with a real estate agent, it’s critical that you have full confidence in that agent’s experience and education. A skilled, knowledgeable agent should be able to explain to you exactly why your home needs to be priced at a certain level – compared to recent listings and sales of homes similar to yours. Experienced agents also know exactly what the current pool of buyers are looking for in relation to particular styles and price ranges of properties. A skilled agent can recommend changes that will enhance the salability of your home, thus increasing the price – and/or decreasing the length of time before a sale.

DID YOU KNOW THAT YOU CAN PURCHASE INVESTMENT REAL ESTATE WITH YOUR RETIREMENT FUNDS?

Real estate can be held within an IRA/401(k). I’ve recently attended a seminar on self-directed IRAs with The Entrust Group and I would like to share with you what I learned.

Many investors don’t realize that they can use retirement funds to buy investment property. Real estate is an option for IRA investing if you use a custodian that is capable of holding the asset. You have to use a custodian that administers self-directed retirement accounts.

Under a self-directed plan the client determines the assets that are purchased for their IRA and they bring the investment to the custodian for purchase. Through a self-directed IRA you can invest in any type of asset that the IRS allows, including Real Estate, Mortgage Notes, and Closely Held Stock.

Many people do not recognize such assets as options for their IRA because large brokerage companies do not offer them. Brokerage companies sell products (securities, mutual funds, annuities, etc.) and therefore they limit your investment options to what they are licensed to buy and sell. To hold real estate, you have to use a custodian (such as Entrust) that offers truly self-directed accounts and does not work on commission or give financial advice.

Any type of real estate can be held in an IRA as long as it is purchased strictly as an investment. You can transfer/roll a portion of your IRA/401(k) over to a self-directed IRA custodian and then instruct them to purchase real estate in the name of the IRA. When the property is sold, the sale proceeds go back to the IRA account. There are no capital gain taxes because the property is owned by the IRA. It works the same as if you invested in the stock market (say shares of Microsoft) and the stock goes up in value; when that stock sells there are no capital gains because it is sheltered in the IRA. The same principles apply to real estate in an IRA. Furthermore all income generated (rent) from an IRA owned property flows back to the IRA tax deferred (similar to a stock that pays dividends).

Some Different Reasons to Own Your Own Home

You’ve probably seen lots of financial arguments about why you should own your own home rather than rent. This includes budgeting (no rent increases) and the tax savings you’ll most likely have. Now I’m going to give you some reasons you probably haven’t heard:

FREEDOM TO PURSUE OTHER GOALS IN LIFE ONCE THE MAJOR GOAL OF HOME OWNERSHIP IS ACHIEVED

Strange as it sounds, many of my first-time buyers have told me that once they bought the house, other things in their life started to fall into place. It’s as if not owning took so much of their mental energy that other goals were not worked on until that big goal was reached. So buy a home and get on with your life!

A GREATER SENSE OF BELONGING TO THE COMMUNITY

Once you own a home, you feel more attached to the city in which you live. You’re more interested in what happens in town, to the roads, schools, and shopping areas. Some people even become involved in local politics, which you seldom see a renter do.

A COMMITMENT TO SOMETHING, A SENSE OF STABILITY

Home ownership is an anchor, something that cannot be pulled out from under you. You’ll never get a notice that you have to move. You’re kids will never have to change schools. It gives you freedom to plan years ahead.

YOU CAN CHANGE THINGS, A FEELING OF BEING IN CONTROL

It’s your home. You can add to it, remodel it, change the landscaping, do whatever projects you want. You have a feeling of being in control of something in your life. At work we don’t always have control of what happens, but your home is your castle that you have dominion over. You can see what you’re building take shape before your eyes.

MORE CONTROL OVER THE CHILDREN THAN IN AN APARTMENT COMPLEX

In a neighborhood, kids usually play in the yards or go to friend’s houses a few doors away. My clients have told me that in an apartment complex they never knew where the kids were. They could be in any of hundreds of apartments, doing who knows what. In a home you get to know the neighbors and watch out for each other’s kids.

CHILDREN DO BETTER IN SCHOOL AND FEEL MORE SECURE

This one surprised me, but buyers have reported to me that their kids calmed down in school after they bought a house. I don’t know why, but it seems to work that way. I remember a single mom watching her son play in the yard, making steps in the slope and building things. She didn’t have to tell him to leave everything alone, like she did at the apartment complex. I guess kids feel the same need for control we adults do.

TIME AND MONEY SAVED BY NOT GOING TO THE LAUNDROMAT

A small point, but if you have kids, you know the value of this one. You gain a whole evening a week when you buy a house! The wash gets done in between other things, or while you’re at work. What would you do with the extra evening you’ll have? How about going out for dessert with your spouse with all those quarters?

We’ve been in a home of our own for so long; we take these benefits for granted. We forget what it’s like to be a renter! If you have anything you can add to the list, please let me know via email. I’d love to hear from you!

Saving For The Down Payment

Saving funds for a down payment should be part of an overall program to get your finances in order prior to shopping for a home. This includes rounding up financial records, examining your spending habits, and setting a budget you can live with. Remember, too, that the down payment is not the only up-front expense. An allowance for closing costs should also be included in your savings budget.

HOW MUCH IS REQUIRED?

The down payment is usually expressed as a percentage of the overall purchase price of the home, and varies depending on the lender, the type of financing and amount of money being lent. In the past, the typical down payment was 20%, but in recent years lenders have been willing to offer conventional financing with as little as 3% down. U.S. Government financing programs, such as those offered by the Dept. of Veterans Affairs (VA) or the Federal Housing Administration (FHA), also require minimal down payments.

PRIVATE MORTGAGE INSURANCE

Typically, if your down payment is less than 20% of the purchase price, lenders will require you to carry PMI, or private mortgage insurance. This insurance protects the lender in case of loan default, and usually involves an up-front payment at closing, as well as a monthly premium. However, once you have paid off 20% of the loan, you can request the policy be canceled. Some lenders cancel the premium automatically, while others require you to make a request in writing.

GIFTS

If you are having trouble saving enough money, many lenders will allow you to use gift funds for the down payment–as well as for related closing costs. The gift may come from family, friends or other sources, but remember that lenders usually require a “gift letter” stating the gift doesn’t have to be repaid. In addition, some lenders will also require you to pay at least a portion of the down payment with your own cash. Thus, if you plan to use gift money to purchase your house, ask your lender about their policies regarding gifts.

EARNEST MONEY

Buyers are usually required to deposit earnest money with the seller when they make an offer. If the offer is accepted, the earnest money is then credited towards the down payment. The amount varies widely depending on the seller and local custom, but be prepared from the outset to have funds earmarked for this purpose.

DON’T FORGET CLOSING COSTS

In addition to the down payment, you will also need to save for additional fees associated with the loan. Known as closing costs, these charges cover items such as title insurance, documentary stamps, loan origination fees, the survey, attorney’s fees, etc. When you submit your loan application, lenders are required to supply you with a good faith estimate of your closing costs.

Some buyers are surprised by the amount of the closing costs, which can easily run into the thousands of dollars. Remember, though, that closing costs can be negotiated with the seller. For example, you may agree to pay the full asking price in exchange for the seller paying all the allowable closing costs.

Pricing Factors Explained

The best chance for selling your property is within the first seven weeks. Studies show that the longer a property stays on the market, the less the seller will net. Below are 5 main factors to accomplishing this goal.

PRICING FACTOR

It is very important to price your property at a competitive market value right when you list it. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell. It’s interesting, but your first offer is usually your best offer. Here are reasons for pricing your property at the market value right from the start in order to net you the most amount of money in the shortest amount of time. An overpriced home:

• Minimizes offers
• Lowers showings
• Lowers agent response
• Limits financing
• Limits qualified buyers
• Nets less for the seller

80% of the marketing is done when we decide on what price to list your home. If you are unwilling to list at current market value, you would be better off not putting it on the market at this time.

CLEAN FACTOR

Most people are turned off by even the smallest amount of uncleanness or odor when buying a home. Sellers lose thousands of dollars because they do not adequately clean. If your house is squeaky clean, you will be able to sell your home faster and net hundreds, if not thousands of dollars more. If you are planning on moving, why not get rid of that old junk now so that your house will appear larger? Make more space. Odors must be eliminated especially if you have dogs, cats, or young children in diapers or if you are a smoker. You may not notice the smell, but the buyers do! Most agents have a difficult time communicating to their sellers about odor. If you employ an agent to get the most amount of money for you, please don’t take offense if he must confront you about odor problems.

ACCESS FACTOR

Top selling agents will not show your home if both the Key and access are not readily available. They do not have time to run around town all day picking up and dropping off keys. They want to sell homes! The greatest way to show a house is to have a key! When your home is being shown, please do the following:

• Keep all lights on
• Keep all drapes and shutters open
• Keep all doors unlocked
• Leave soft music playing
• Take a short walk with your children and pets
• Let the buyer be at ease and let the agents do their job

PAINT & CARPET FACTOR

Paint is your best improvement investment for getting a greater return on your money. Paint makes the whole house smell clean and neat. If your house has chipped paint, exposed wood, or the paint looks faded, it is time to paint. If your carpet is worn, dirty, outdated, or an unusual color, you may need to seriously consider replacing it. Many houses do not sell because of this problem. Don’t think that buyers have more money than you have to replace carpet. They don’t. They simply buy elsewhere.

FRONT YARD FACTOR

Your front yard immediately reflects the inside condition of your house to the buyer. People enjoy their yards. Make certain that the trees are trimmed so the house can be seen from the street. Have the grass mowed, trimmed and edged. Walkways should be swept. Debris cleared away. Remove parked cars. This all adds to curb appeal. If a buyer doesn’t like the outside, they may not stop to see the inside.

SANDY KISHTON, Realtor, e-PRO, Daniel Crapps Agency, Inc. 386-755-5110 or 386-344-0433