Gainesville Market Watch | Fall 2014 | Issue 3

GAINESVILLE

Market Watch Commercial & Land / Property Management Edition Fall 2014

5 Shades of Gray Meet our REALTORS速

Dan Drotos & Mike Ryals MILESTONE: The Drotos Ryals Group Surpasses the half-billion dollar mark For a complete view of listings, visit BosshardtRealty.com

Update This | 1

GAINESVILLE

Market Watch Fall 2014

Welcome The seasons are changing, and so is Gainesville.

Gainesville’s commercial real estate market has soared during the first half of 2014. With the rebounding economy and increased capital availability, vacancies are filling as significant retailers open their doors in Gainesville. We’re excited for the arrival of Burlington Coat Factory, Hobby Lobby and Tractor Supply. Among these new leases are a plethora of mouthwatering restaurant and bar options for you to enjoy this fall. Support our flourishing Gainesville culture by exploring these local eats.

Just like our city, our residents are always revamping. We sample five timeless shades of gray to transition your home this season. For first-time homeowners, we offer crucial points to consider throughout your first real estate investment.

Prospective homeowners should visit page 17 for credit score tips that will bring you one step closer to owning our beautiful Florida real estate. For renters, Gainesville offers endless possibilities with luxury home leases.

As a member of the Leading Real Estate Companies of the World, our first-rate professionals bring expert marketing and resources to you. Keep an eye on our commercial listings and real estate advice.

Regards,

Gainesville Corporate Office 5542 NW 43rd St. Gainesville, FL 32653 (352) 371-6100

Bosshardt Property Management 5522 NW 43rd St., Suite A Gainesville, FL 32653 (352) 371-2118

Bosshardt Title Insurance Agency 5532 NW 43rd St Gainesville, FL 32653 (352) 240-9105

Aaron Bosshardt

President, Bosshardt Realty Services REALTOR®, CPM

2 | Market Watch

Table of Contents 4

5-9 Commercial & Land Market Update

7

Commercial & Land Listings

10-11 Featured Agents Dan Drotos & Mike Ryals

12

New Restaurants & Bars

13

Fletcher Plaza Real Estate Q&A

14-17 Residential Listings

16-17 How Credit Scores Can Affect Your Mortgage Rate For a complete view of listings, visit BosshardtRealty.com

15 5 Shades of Gray

18-22 Property Management Listings Table of Contents | 3

Market

UPDATE Gainesville’s commercial real estate market is showing momentum within the first half of 2014.

With the combination of positive economic outlook and increased capital availability, Gainesville is setting the stage for a rise in transaction numbers across all commercial property types.

Large retail spaces are currently showing a significant decrease in vacancy rates. National companies are taking advantage of the previously downtrodden economy to acquire desirable building sizes with premiere locations. In many cases, a prolonged vacancy results in depressed prices that are much lower than the current rate of construction for a comparable structure. Aside from great timing, national companies recognize the increase in local consumer confidence. Impressive large-scale retailers such as Burlington Coat Factory, Tractor Supply and Hobby Lobby, are leading the way for other large companies en route to Gainesville.

Vacancy rates for turn-key restaurant locations are also exhibiting a decline. Savvy restaurateurs are acknowledging that the local economy is on the upswing, and there is a narrow gap of opportunity as rent and lease prices will inevitably increase over the next few years.

Owners are surveying the market for previously built-out restaurant spaces and locking in advantageous deals featuring today’s currently low lease rates. Luckily, Gainesville’s population is always on the “lookout” and ready to support the hot new restaurants in town.

Vacant land development has finally awoken after a long and hard slumber. Big businesses, such as Bass Pro Shops, are searching for opportunities to make their mark on Gainesville’s landscape. Additions to existing sites are also in the works with the construction of a new tower to accommodate Shand’s neuromedicine and cardiovascular hospitals. These recent enhancements should result in greater

4 | Market Update

employment opportunities for Gainesville’s community and may promote a further influx of newcomers. In a brilliant effort to keep our talented UF students rooted within the community, the development of Innovation Square is another notable example of recent land development.

Gainesville’s rebounding economy is mirrored within its commercial real estate market.

As with any strengthening economic climate, the days of overflowing inventory are quickly vanishing and being replaced with a seller’s market. Prices and lease rates are expected to climb over the next several years as Gainesville’s population continues to expand.

Eric Ligman, REALTOR®

Over a decade of commercial real estate experience Specializes in tenant representation and corporate real estate ventures

Commercial Listings

11 SW 1ST AVENUE

2846 SW 87TH WAY 2,800 SF Haile Medical Office Park located near the market square.

Customized to serve your needs, just south of the Haile Publix at the gateway to the northern part of the Haile Plantation. $868,000 • MLS# 347184 ken & angela cornell • 352.281.4000

1440 NE WALDO ROAD

Prime retail opportunity in the heart of the Downtown Gainesville area. 1,440 SF located directly adjacent to Emiliano’s. $325,000 • MLS# 347607

3 acres located in the hub of Gainesville’s East side and near a Wal-Mart amongst other shopping centers.

the drotos ryals group • 954.551.9846

$349,900 • MLS# 344427

For a complete view of listings, visit BosshardtRealty.com

bruce rider • 352.275.9613

Commercial Listings | 5

Commercial & Land 9900 NW HIGHWAY 441

1105 NW STATE ROAD 45

SW ARCHER ROAD

Fantastic development opportunity in Gainesville. 116 acres zoned for both Commercial Intensive (CI) and Agricultural (AG). Located in a quickly expanding area. $3,805,000 • MLS# 343701

205 acres zoned for mixed use development. Located in Newberry, FL adjacent to the 41 Commerce Center and Easton Sports Complex. Will divide. $2,349,000 • MLS# 331250 bruce rider • 352.275.9613

3.6 Acres zoned mp (industrial services & manufacturing). 159 Ft frontage on archer rd. Additional 19 acres available. $1,980,000 • MLS# 350209

7011 W NEWBERRY ROAD

SW ARCHER ROAD

26107 W HIGHWAY 27

Great high traffic Newberry Road location between I-75 and Oaks Mall. Convenience store can be vacated and converted to new/alternative use by buyer. $1,690,000 • MLS# 351472

6.57 acres currently zoned AG but may be rezoned MP. Located in Gainesville right off of Archer Road. $919,800 • MLS# 350215 dennis clayton • 352.339.4907

Freestanding on 0.97 acres in High Springs, this property offers industrial, commercial and business opportunities. $199,900 • MLS# 355961

1260 SW 16TH AVENUE

2441 NW 43RD STREET

24588 NW 9TH PLACE

Terrific corner location with mixed use zoning just a few blocks south of UF. This 798 SF property is best suitable for restaurants or retail business. $559,000 • MLS# 326367

Prime 3,108 SF retail space in Thornebrook Village, a desirable NW location. Vacant and available immediately. $395,000 • MLS# 347609

These 24 acres are located just north of Newberry and zoned Industrial allowing office, commercial, industrial or warehouse.

Listing for the 12 remaining lots. $375,000 • MLS# 353481

the drotos ryals group

the drotos ryals group

954.551.9846

954.551.9846

bruce rider • 352.275.9613

the drotos ryals group

dennis clayton • 352.339.4907

954.551.9846

the drotos ryals group

eric ligman • 352.256.2112

954.551.9846

6 | Commercial Listings

Featured Agents GET TO KNOW:

Dan Drotos Where did you grow up?

Ft. Lauderdale, prior to moving to Gainesville in 2007 What do you do to relax when you’re stressed? Take my dog Jackson for a walk/run Growing up, what did you want to be? A Veterinarian What’s your favorite or most rewarding part of your job?

Helping businesses meet their spatial needs and setting them up for success What work accomplishment have you been proudest of?

Working with Eldercare of Alachua County to institute a weekly Bosshardt Meals on Wheels route

GET TO KNOW:

What’s the oddest job you’ve ever had? Construction inspector of petroleum storage tank and pipelines and water distribution, sanitary sewer collection, and storm water systems

Where is your favorite place to hang out? Tipple’s Brews in Tower 24 or at a Tailgate on game days

What are your hobbies/ interests? I enjoy inshore fishing, trying new restaurants, and attending Gator Football and Basketball games

What was the last good movie you saw or book you read.

Not a movie but I have been watching House of Cards on Netflix

What is something interesting about you that most people wouldn’t know? I am a dual citizen of the US and Canada If you could have lunch with a well-known figure (living or not), who would it be and why? Mike Ryals…It’s hard to keep track of that guy. He is always on the go

What song(s) would be included on the soundtrack to your life? The Gator fight song

Architecturally speaking, what is your favorite building in Gainesville? Century Tower Dan Drotos, Vice President, MSRE Commercial Broker Associate, REALTOR® Earned 3 degrees from the University of Florida including a Masters in Real Estate

a 35+ year career because when I first began I had no idea this would be my career path

What song(s) would be included on the soundtrack to your life? Seems Like a Dream What was the last good movie you saw or book you read.

A Land Remembered

Growing up, what did you want to be? Not sure that I knew

What’s the oddest job you’ve ever had? What are your hobbies/interests? Oddest job was probably picking tobacco in Canada the summer after graduating high school, especially since I’m totally opposed to smoking

What’s your favorite or most rewarding part of your job?

Satisfying the needs and demands of clients. The feeling of “accomplishment” with helping others

What is something interesting about you that most people wouldn’t know? Either that I take off most Thursdays to hang out with my grandkids or that I am a surfer

What work accomplishment have you been proudest of?

Probably that I made real estate

Where is your favorite place to hang out? Beach or most any place with my wife

Mike Ryals Where did you grow up?

Gainesville, FL What do you do to relax when you’re stressed? Play the guitar

For a complete view of listings, visit BosshardtRealty.com

Hobbies include: Surfing, Tennis, Golf, Working Out, Guitar and Time with Family (at the top of the list!)

Mike Ryals, Senior Vice President Commercial Division, REALTOR®

2013 Dean of Commercial Real Estate Honor given by the National Association of REALTORS®

Featured Agents | 7

Commercial & Land 2014

INVITATIONAL

G O L F TO U R N A M E N T

12019 W NEWBERRY RD

7328 W UNIVERSITY AVE

This sprawling 31-acre site allows up to 300 residential units and up to 150,000 SF of non-residential space with a mixture of office and retail uses. Located at the intersection of Newberry Road and Parker Rd. $5,500,000 • MLS# 356226

This ultra-clean professional office stretches out to 900 SF with 4 offices, a reception, 2 bathrooms, a small kitchenette and a back patio. The move-in ready space is located off Tower Road. $1,060/month • MLS# 356273

the drotos ryals group

954.551.9846

954.551.9846

2201 NW 40TH TERRACE

5618 NW 43RD STREET

FOR LEASE Benefitting the UF Health PALS program to teach local high school students how to deal and cope with issues such as violence, bullying, drug abuse, diversity and low self-esteem.

Benefiting

the drotos ryals group

FOR LEASE

Beautiful 6,012 SF office in the highly desirable Crown Pointe Office Park located in NW Gainesville. The space has been newly renovated. $6,012/month • MLS# 345210

May be one of the most impressive offices in NW Gainesville. These spacious private offices include a fireplace and outside patio(s) overlooking a pond and fountain. $4,717/month • MLS# 350050

the drotos ryals group

the drotos ryals group

954.551.9846

954.551.9846

4727 NW 53RD AVENUE

25105 W NEWBERRY ROAD

Presented by

PALS Program

Thurs. November 13, 2014 at 10:30 a.m.

Haile Plantation Golf & Country Club www.golf4pals.com

8 | Commercial Listings

FOR LEASE Located in Bristol Park, this upscale, brick office is perfect for legal, medical and business use. $2,261/month • MLS# 356149

Outstanding 1,589 SF office rental opportunity. Building has 9 offices located in the heart of Newberry. $1,755/month • MLS# 347692

perry mcdonald • 352.262.2871

teresa hoffman • 352.870.9063

Commercial & Land 2246 NW 40TH TERRACE

FOR LEASE

5080 NW NEWBERRY ROAD

827 NW 56TH TERRACE

FOR LEASE

Attractive, spacious, professional 2,233 SF space located in Crown Pointe Office Park, a highly desirable area in Gainesville’s business district. $2,233/month • MLS# 352260

3,539 SF office right in Gainesville’s financial district. Minutes away from shopping and I-75. There are 6 private offices and an enclosed workroom. $5,308/month • MLS# 349739

Last remaining office lot in Park Avenue.

Very convenient location near UF, I-75 and North Florida Regional. $182,900 • MLS# 334661

eric ligman • 352.256.2112

bruce rider • 352.275.9613

954.551.9846

2246 NW 49TH TERRACE

12801 US HIGHWAY 441

6224 SW 20TH AVENUE

1,467 SF in Crown Pointe Office Park.

Extremely attractive office space located in a highly desirable NW Gainesville’s business district. $1,467/month • MLS# 355033

99,693 SF in Phoenix Commercial Park, a state of the art Industrial/Manufacturing/ Warehouse facility. Located directly on US 441 on 63 acres in Alachua 2 miles from I-75. $4,483,755 • MLS# 354956

This 8.33 acres lot in SW Gainesville is the perfect site for apartments, condos, assisted care or churches. $399,000 • MLS# 353870

eric ligman • 352.256.2112

the drotos ryals group

4340 W NEWBERRY ROAD

14 S MAIN STREET

the drotos ryals group

FOR LEASE

954.551.9846

954.551.9846

502 NW 16TH AVENUE

FOR LEASE

LEASED Beautiful Class A Medical Office space in the Millennium building on the corner of Newberry Road and NW 43rd Street. 3,333 SF with a great location and visibility. $3,875/month • MLS# 345614

the drotos ryals group

the drotos ryals group

24,580 SF in the heart of downtown Gainesville. This classic building is exceptional offering potential for restaurant, retail and office space opportunities with curbside appeal. $1,800,000 • MLS# 354722

666 SF office space. This suite is comprised of four offices, large kitchen, a storage space and the versatility to merge 2 of the offices into a large open conference room. $666/month • MLS# 354179

954.551.9846

eric ligman • 352.256.2112

eric ligman • 352.256.2112

For a complete view of listings, visit BosshardtRealty.com

Commercial Listings | 9

restaurant & bar options to choose this fall

The Bosshardt Commercial & Land Division has assisted with multiple leases and sales of commercial space around town, over the past few months, for a variety of new restaurants and food service type users. As fall approaches be sure to try out these new Gainesville area businesses: 5 Bar Simplicity is the theme here. If you want a few options that you know are a going to be great then you must visit 5 Bar located at 104 S. Main Street in downtown Gainesville. They offer 5 menu items, 5 appetizers, 5 signature cocktails, 5 domestic & import beers and 5 red & white wines. They also offer some of the freshest seafood in Gainesville with fish flown in from Destin multiple times per week.

Square 1 Burgers and Bar This concept out of Tampa opened late late summer in the former Maui Teriyaki building of University Towne Center at 3105 SW 34th Street. It will be their 8th location and will serve a variety of specialty burgers, shakes, salads and sliders as well as offer a full bar. Menu items range from $8-$12 with drink specials daily.

10 | Update This

The Hyppo Gourmet Ice Pops The Hyppo should undoubtedly be on your list of places to combat the Gainesville heat. The small downtown Gainesville establishment on the bottom floor of the Hampton Inn at 101 SE 1st Avenue is known for its tasty and unique popsicles. With currently over 200 flavors in rotation you should be able to find plenty that suit your tastes. With 2 new locations opening soon, The Hyppo is sure to become a great place in town to bring the whole family.

Yummy House Not many places have a line out the door for lunch during the week but Yummy House is one of them. Originally from Tampa, they expanded to Gainesville with their 5th location in the former KFC restaurant located at 7605 W Newberry Rd. They offer over 200 Hong Kong Style dishes including a full dim sum menu.

Bangkok Square Located at Kanapaha Station, along with Beef O Brady’s, Bangkok Square is another Asian restaurant that is making quite a buzz in Gainesville. They offer a full menu of Thai dishes in a classy and comfortable atmosphere.

First Magnitude Brewing Company Is set to open this summer in a warehouse across from the downtown RTS station. The craft brewery will offer a variety of staple and seasonal beers. Visitors will be able to enjoy the selection in the fully equipped tasting room or outdoor beer garden.

Whiskey House will be opening on the first floor of the downtown parking garage at 60 SW 2nd Street.

The bar will offer Gainesville’s most comprehensive selection of whiskey as well as other global beer and spirits.

For more information about anyone of these new Gainesville area businesses and/or help with any of your commercial real estate needs give Bosshardt a call today.

Images from the facebook pages of The Hyppo, Five-Bar Gainesville, and Bangkok Square.

For a complete view of listings, visit BosshardtRealty.com

New Restaurants and Bar Options | 11

Commercial & Land

real estate 1. What are the differences between different types of leases?

Bruce Rider: A gross lease implies the landlord and tenant agree to a specific dollar amount for renting the space. If there are fluctuations in the cost of items such as property taxes, insurance, or CAM (Common Area Maintenance), in a gross lease the landlord shoulders these costs. In a triple net lease (NNN) there are two varieties. For smaller tenants, rent is the basic cost to rent the property. This rent amount is net (or less) the fluctuating cost of CAM, property taxes, and insurance.

For many big box retailers, a NNN will be essentially the same as above but they will also incur all of the cost of operating their facility.

2. What is TI/Tenant Allowance?

Mike Ryals: Tenant allowance (TI) is an allowance provided by the landlord (to the tenant) to allow/assist tenant with specific property improvements. A tenant allowance can be paid either by direct payment (from landlord to tenant) or by rent reduction or rent credit.

Eric Ligman: A tenant allowance, or TI, is a specific amount contributed by the owner to help offset tenant costs of property improvement. Common forms of tenant allowance include direct payment (from landlord to tenant), rent credit, or temporary rent reduction. If the costs of property improvement exceed the negotiated sum of the tenant allowance, then the tenant bears the responsibility of the excess cost.

3. Why is using a commercial real estate broker important when leasing?

Mike Ryals: Wow, this is a question I could answer in bulk. There are so many variables that protect buyers, sellers, landlords and tenants. No two deals are identical, but I encourage anyone transacting real estate in the commercial real estate arena to enlist the services of an experienced commercial broker to advise and assist them.

12 | Real Estate

4. What does CAM or pass through include?

Mike Ryals: There is no exact answer to this question: CAM/Pass through expenses generally include some specific operating costs that the landlord pays and the tenant reimburses back to the landlord through CAM payments. This can include anything from property taxes, insurance, grounds maintenance, utilities, garbage and/or other normal operating costs.

Dan Drotos: CAM or pass through is a term that you will hear when dealing with a net lease. There is no exact answer to what CAM includes but it is determined on a caseto-case basis. In addition to maintenance items it can include expenses such as property taxes, insurance, utilities, refuse, and/or other normal operating costs.

5. What are exclusions and how can they affect your lease?

Mike Ryals: Exclusions are provisions that limit duplication of certain types of uses. For instance a coffee shop may have a coffee exclusion to protect themselves from a competitor or second coffee shop from locating adjacent to them.

Robert Caniff: An exclusive use clause is a promise by the landlord to allow only you and no one else in the mall, building or development to engage in a particular kind of business activity or carry a certain type of merchandise.

For instance, a coffee shop may be the exclusive coffee shop in the development thereby excluding a competitor or second coffee shop from locating in that area. It’s recommended that exclusions be very specific and concise.

New Development on the Rise:

FLETCHER PLAZA Fletcher - Need photos

Coming soon to Tower Road.

Quick Facts: Type: Retail and Office Square Feet: Up to 37,000 Tax Parcel #: 06838-001-000 Lease Type: NNN Lease Term: 5+ years Price Per SF Ann.: $20.00

New developments are putting Gainesville on the map, turning this once vastly college town into an innovative and trend-setting community for consumers. The newest development that will capitalize on the growing Gainesville community is Fletcher Plaza. This newly approved plaza will be located at the intersection of Tower Road and SW 24th Avenue, Fletcher Plaza will be a mixed-

For a complete view of listings, visit BosshardtRealty.com

use development for retail and office space. It will allow for 37,000 SF of retail space, 37,000 SF of office with 67 apartments/condos sitting on 8.48 acres. Minutes from UF and Archer Road, this plaza hopes to stand among other plazas in the area to bring new consumers to the Gainesville area.

Real Estate | 13

Residential Listings

The right home for your family might be closer than you think. If you’re just getting started or have been looking for a while, browse some of our listings section to narrow your search. This section spotlights spacious homes in a variety of locations that are perfect for both settled and growing families. For a complete view of listings, visit BosshardtRealty.com.

1011 SW 112TH STREET

5059 SE COUNTY ROAD 337 spacious 3,294 sf home in landmark woods

This must-see home features a 3-way split floor plan with French doors, vaulted ceilings, a screened pool and a covered porch. $420,000 • MLS# 356587 matthew armas • 352.256.0962

211041 NE 40TH STREET

UNDER CONTRACT 4 br /3.5 ba in hayes glen

3,300 sf home in williston

Nestled on 2.38 horse-friendly acres, this home includes hardwood flooring, granite countertops, surround sound speaker system and a screened in pool with cage.

Enjoy summer evenings cooking in the outdoor kitchen or swimming in the screened pool in this 3BR/3.5BA home.

$499,000 • MLS# 351817

donovan arnold • 352.281.1188

henry rabell • 352.258.1114

14 | Residential Listings

$259,000 • MLS# 352559

Residential Listings 22730 NW 105TH DRIVE

7052 SW 35TH AVENUE

9517 SW 40TH LANE

energy efficient home

charming remodeled home in hampstead park / albury round This 4BR/4BA home features

SOLD custom jackson model townhouse

This townhouse is perfect for entertaining in the fully updated kitchen and screened two-story porch featuring a tiled first floor and upper wood deck. $159,900 • MLS# 352831 mitchell martin • 352.316.5527

This Custom Green and Energy-Efficient 2,444 SF home includes a screened lanai overlooking a landscaped yard and is close to Haile Village Center. $374,900 • MLS# 352885 amanda mclean • 770.855.7399

a gourmet kitchen, salt-water pool, hardwood flooring and a large master suite with luxury bath. $650,000 • MLS# 352890 perry mcdonald • 352.262.2871

Dark Grays Darker gray shades are great with contrast colors and work beautifully with kitchen or bathroom cabinets.

Far from boring, gray is like that little black dress that goes with everything or can stand out on its own. Gray is the new go-to paint color that can go from classic and timeless to edgy in the snap of an accessory.

Take a look at some of the trending shades of gray for every home.

Sparrow Gray AF- 720 (Ben Moore) Works well with statement rooms with bold furniture.

Metropolitan Gray AF-690 (Ben Moore) If you can’t commit to solid gray, this shade has a blue undertone for that sophisticated 21st century home.

Revere HC-172 (Ben Moore) Almost white shade of gray that can be accented with dark furniture.

Wall Street CSP-20 (Ben Moore) This pure shade of gray will stand out in a room that brings in lots of light from both rising sun and the luminescent moon.

For a complete view of listings, visit BosshardtRealty.com

Residential Listings | 15

Residential Listings 11214 NW 31 LANE

CREDIT SCORES gorgeous 4 br /2 ba family home

This home includes crown moulding, a gas fireplace and screened porch and is zoned for the new “A” rated school, Meadowbrook Elem. $222,000 • MLS# 353227 clara o ’ leary • 386.965.4873

7611 NW 41ST AVENUE

2,478 sf home in robin lane This charming home includes a large covered wood porch with a hot tub and a second 2-car garage/shop in the back. $225,000 • MLS# 353261 ben zuber • 352.494.5953

1515 SW 112TH STREET

Can Affect Your Mortgage Rate

By Michelle Schibuola

Have you been searching high and low to find that perfect “forever” home and think you’ve finally found it? Your offer has been presented and accepted by the seller and now you begin the arduous task of securing financing. Your credit rating may be the single most important piece of financial information you have for obtaining a mortgage at the best possible rate. Do you have a good credit score? Congratulations if you do. A good credit score means lenders may compete for your business because of diminished risk. Unfortunately, due to debt from credit cards, car payments and student loans, the majority are over-extended and on the other end of the spectrum.

What does a low credit score mean to you? A low credit score will lessen your chances of getting the best possible interest rate, which will impact your home purchasing power. It may even influence whether you can obtain a loan at all. Several missed payments, high credit card balances, public liens, bankruptcy, etc., substantially reduce your chances of qualifying. Lenders will calculate a rate that matches the gamble they’re taking in lending you money.

stunning gated estate in hayes glen

This 3BR/2BA home in Newberry feautures a fenced in yard, home theater, maple floors and cabinets, vaulted ceilings and crown moulding. $1,400,000 • MLS# 352468 perry mcdonald • 352.262.2871

16 | Residential Listings | How Credit Scores Can Affect Your Mortgage Rate

Interest paid on a mortgage can add up to hundreds of thousands of dollars over the life of the loan. The higher your credit score, the lower the interest rate, because you pose less risk to lenders. On a loan as large as a mortgage, a mere percentage point up or down can add up to a considerable amount of money says, Sheyna Steiner of Bankrate.com. For example, according to myfico.com, a $150,000 30-year, fixed-rate mortgage using today’s national rates, a person with a FICO® Score of 760 or better will pay $146 less per month than a person with a FICO® Score of 620 – that’s a savings of $1,752 a year. In most cases, a score of 720-760 or more will qualify you for the best mortgage programs. According to Realtor.com, “a score below 620 will place the borrower in the “subprime” category, where he will be receive higher interest rates and less desirable choices as far as terms and types of loans. A borrower with a FICO score of less than 500 will have a difficult time getting a loan.”

Here are the factors that determine your credit score: PAYMENT HISTORY — Have you paid your bills on time?

AMOUNTS OWED — What is your overall debt?

TYPES OF CREDIT USED — Lenders like to see all kinds of credit types: bank cards, car loans, student loans, and more. However, minimize store cards.

They’re easier to obtain and therefore, looked down on.

report and check your credit rating. This will give you adequate time to correct reporting errors and to clean up your ratings if they aren’t all that impressive. Next, try not to open new lines of credit. If you have to apply for college loans or purchase a car, one or two loans a year are fine, but three or four tend to raise a red flag. In addition to cleaning up your credit report and minimizing your loans, another way you can improve your interest rate is with a large down payment, about 25 percent or more. If you put down 40 percent, many banks will offer preferred rates because they no longer see you as a risk.

How can you improve your chances of getting a better interest rate? The upside is you can improve your rate; the downside is it’s not going to happen overnight. Prior to looking and making an offer on a home, ideally about a year, obtain a

If you plan accordingly, your financial standing with banks could improve significantly. Your interest rate could mean the difference between qualifying for financing and finding your “forever” home while saving thousands over the life of the loan.

LENGTH OF CREDIT HISTORY — How long have you been borrowing money? Lenders like to see a long credit history.

NEW CREDIT — Have you applied for new credit?

How frequently?

How Credit Scores Can Affect Your Mortgage Rate | 17

Property Management

Now that summer is over, do you feel like you don’t have enough time in your day to manage your property? Are you ready for a house, but not yet ready to buy? If one of these sound like you, then Bosshardt Property Management is here to help. Check out a few of our listings below.

1810 NW 23RD BOULEVARD #275

2360 SW ARCHER ROAD #406

3901 SW 20TH AVENUE #506

2ND FLOOR 1BR/1BA END UNIT iN CREEKS EDGE This 960 SF condo includes a breakfast bar, balcony, and open parking. Community features a swimming pool, clubhouse, fitness center, and tennis courts. $750/month • MLS# 354805 352.371.2118

RENTED CAMPUS EDGE FURNISHED CONDO Located immediately next to UF and Shands, this 1BR/1BA condo features a balcony, walk-in closets and decal parking.

2BR/2.5BA TOWNHOME IN KENSIGNTON SOUTH This 1064 SF townhome was built in 2001 and features a breakfast bar along with a community pool and fitness center.

$725/month • MLS# 352652

$800/month • MLS# 354117

352.371.2118

352.371.2118

18 | Property Management Listings

Property Management Tip

5

9177 SW 52ND ROAD #E202

1BR/1BA SF CONDO IN THE VILLAGE This 840 SF condo in Haile includes a dining and living room combination, carpet, brand new central AC unit and community features a pool and fitness center. $845/month • MLS# 353370 352.371.2118

4340 NW 48TH STREET #103

2BR/2.5BA CONDO IN MAGNOLIA PLACE This 1271 SF condo built in 2003 features a breakfast bar, vaulted ceilings, screened porch and tons of community amenities. $995/month • MLS# 351238 352.371.2118

10000 SW 52ND AVENUE #O-79

SIGNS YOU ARE READY READY FOR YOUR FIRST INVESTMENT PROPERTY

Your first real estate investment is similar to any other investment that you commit to. If planned correctly, investing in real estate can be financially beneficial. Below are five signs that you are ready to take on your first investment property.

1. Are you READY to invest? The moment you decide an investment property is the right choice for you, you have to consider all the variables that go along with this new-found responsibility. Understanding that real estate is not for everyone and it may not always work out the way you expected is crucial. Having a firm grasp on your personal finances before you make an investment is imperative. Real estate investments aren’t just for the wealthy, but for those who are ready to make a commitment and stand by their investment for the long haul.

2. Do you have a PLAN? Investments don’t become successful by accident. You should consider your investment as a business and map out where you are now and where you want to be several years down the road.

Don’t generalize. Create specific, measurable goals that you can come back to and track your progress. Developing your business plan will help lead to your financial success and potentially keep you out of any legal trouble along the way.

3. Do you understand the investment EXPENSES and RESPONSIBILITY? An investment property is an expensive responsibility.

A common mistake that first-time investors make is not understanding that buying a home is only the first step when it comes to the finances.

There are continuous repairs and upkeep in a home, especially if you have a variety of tenants moving in and out of the property. Other expenses include legal fees, scheduled maintenance, water and utilities when there are vacancies and capital improvements, just to name a few.

4. Should you SELF-MANAGE your property or hire a PROFESSIONAL? There is not only a financial commitment when it comes to buying your first investment property but also a large time commitment.

Whether or not you manage your own property or hire a professional, being hands on when it comes to your investment is important. If you choose to hire a property manager, it’s their job to ensure you get the most out of your investment and understand the rules and regulations of real estate.

GROUND FLOOR 2BR/2BA END UNIT IN THE LINKS This 1134 SF condo in Haile includes a computer nook, large storage area and screened porch. Community features a swimming pool, fitness center, clubhouse, playground, and car wash area. $1015/month • MLS# 353543 352.371.2118

5. Are you prepared to be in a LONG-TERM COMMITMENT with your investment? Seeing a return on your investment doesn’t happen

overnight. It takes years of work and building credit and value towards your investment. Most real estate investments take at least seven years before a person can see a substantial return on their investment. Of course, throughout the process some investments can create a positive cash flow if you have someone renting the property.

For a complete view of listings, visit BosshardtRealty.com

Property Management Listings | 19

Property Management

LUXURY HOMES Home Rentals for the Next Generation

Leasing a luxury home has been an increasing trend nationwide in recent years. Even with the housing market starting to stabilize, it seems that some people are still finding that renting a home may prove to be more beneficial than buying one for them. Florida seems to be at the top of the list when it comes to rental property leases.

When it comes to these luxury home rentals, Gainesville is no stranger to this growing trend.

Bosshardt Property Management, one of the leading property management companies in the state, sees the potential that luxury home rentals can offer.

and stainless steel appliances at affordable prices, renting these homes gives people the ability to improve their credit without breaking the bank. In some areas, you will pay less per month to rent a home twice the square footage as one you would buy.

Renting a home isn’t just for students anymore, but also the working-class community. The people who choose to rent a home over buying a home see a wide variety of opportunities and advantages to renting.

With neighborhoods such as Ridgemont, voted one of the best neighborhoods to live in, Gainesville has a wide variety of luxury home rental properties to offer its residents. With properties featuring a fireplace, two-car garages and granite countertops

These full-service homes offer endless possibilities, especially for the transient demographic of Gainesville. Many students come and even go on to become professors on contract with the university. The flexibility of only being contracted for a year or two rental agreement leaves room for change.

20 | Property Management Listings

Another preferable area in Gainesville is Wilds Plantation, a popular luxury neighborhood in southwest Gainesville, a beautiful

landscaped community with close to 200 home sites. Wilds Plantation is a picture-perfect neighborhood located eight miles from the University of Florida and Shands hospital.

Nearby is the community is Eloise Gardens, a charming neighborhood located near Haile Plantation. This tranquil community is the perfect place for families; it features a community playground and access to miles of Haile Plantation bike trails. This neighborhood is ideal for families looking for a little outdoor adventure.

Renting a home is no longer limited to an apartment or highrise condo. Renters are now able to settle in some of Gainesville’s most prestigious and luxurious homes.

Property Management

SW 52ND AVENUE #G38

4609 SW 97TH TERRACE

LOVELY & INVITING POOL HOME IN HAILE PLANTATION Spacious & bright with amazing curb appeal 5 BR/4BA with office, bonus and formal dining. Large kitchen with granite and SS appliances. $4,350/month • MLS# 355912 352.371.2118

2264 NW 15TH AVENUE

2ND FLOOR 3BR/3BA END UNIT iN THE LINKS This spacious 1431 SF condo in Haile includes a computer nook, vaulted ceilings and an open balcony overlooking the creek.

Community features a swimming pool, fitness center, playground and car-wash area.

1650 SF HOME WITH LARGE ENCLOSED PORCH This 3BR/2BA home sits on a cul-de-sac and features a breakfast bar, vaulted ceilings, ceiling fans, additional storage and 2-car garage.

$950/month • MLS# 351238

$1400/month • MLS# 352742

352.371.2118

352.371.2118

For a complete view of listings, visit BosshardtRealty.com

Luxury Homes in Gainesville | 21

Property Management 6754 SW 81ST TERRACE

1120 SW 80TH DRIVE

HOME IN MENTONE ON 1/3 ACRE CUL-DE-SAC LOT This 3BR/2BA home features a 2-car garage, rear patio, fenced in yard, built in surround sound system and walk-in closets.

Community includes a pool, soccer field, tennis court, jogging trail and 20-acre park. $1450/month • MLS# 353423

2235 SF POOL HOME WITH STUDY This 4BR/2BA home in Parkside sits on a cul-de-sac lot and includes a fireplace, pool table, screened porch, fenced back yard and a 2-car garage. $1895/month • MLS# 353375 352.371.2118

352.371.2118

4311 NW 18TH PLACE

6745 NW 36TH DRIVE

3BR/2BA HOME IN SUBURBAN HEIGHTS This spacious 1974 SF home features a, breakfast bar, renovated bathrooms, large fenced backyard and a 2-car garage. $1450/month • MLS #355462

3BR/2BA HOME IN SAFE NEIGHBORHOOD This 1452 SF home in Sutter’s Landing includes a fireplace, vaulted ceilings, enclosed porch, fenced yard, 2-car garage and neighbor crime watch. $1295/month • MLS# 354328

352.371.2118

352.371.2118

6908 SW 42ND PLACE

2825 SW 98TH DRIVE

1100 SF END UNIT IN GREENLEAF This 2BR/2.5BA townhome built in 1983 features a beautiful lawn, living and dining room combination, fenced back yard and open parking. $725/month • MLS# 356092

3BR/2BA HOME WITH SUN DECK This lovely 1822 SF home in Haile Plantation features vaulted ceilings, walk-in closets and a 2-car garage. $1495/month • MLS# 352081

352.371.2118

352.371.2118

22 | Property Management

Property Management

Does your HOA Manager have you saying, “OMG!” We’ve heard a few horror stories ourselves. Instead of letting a few acronyms trouble you over sleep at night, here are some tips to finding the right HOA Manager.

• Make sure they are accredited

Check to see if the company is a member of a trade group that is working to improve industry standards, such as the Community Associations Institute.

• Be wary of low prices Rates for management companies shouldn’t vary greatly and the old adage you get what you pay for applies here. If their rates are significantly less, do your homework and find out why.

The rate should depend on the size of your association and the services provided.

• Check their references Just as if hiring a new employee, take the time to do background check. Call the aforementioned accreditation trade groups and make sure they are up to snuff.

• Call a Bosshardt Community Association Manager

Whether you have questions about the tips above or want to find out more about why so many local HOA’s have chosen us to be their representative, give us a call and a chance to earn your business.

352.371.2118

• Review the Financials

Insist on reviewing bank financials and original statements. Some Gainesville HOA’s have recently experienced tampering with these accounts costing their association thousands. Don’t let your management company be the next one.

HOA Article | 23

5542 NW 43rd St. Gainesville, FL 32653 www.BosshardtRealty.com