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Thursday, January 19, 2017

Selling Your Home - There is a Reason Your House is Not Getting Traffic!

I spoke with a gentleman yesterday who was in the process of relocating to Florida.  He had done all the right steps.

He has his current home on the market.  Actually, he has had his home on the market for about five months.

I asked if he had any offers yet.  No.  I asked if he is having a lot of showings.  Some people are looking (paraphrased).

Treading very lightly I asked if he thought the price was an issue.  He said yes and he was thinking about lowering the price some.

It was at this point I encouraged him to communicate with his real estate agent I do not know his home's market but his local real estate expert should know the prices, trends and where the prospective buyers will likely come from ( retiree pool).

Because he has his own agent I did not go into what I call the 30-10-1 rule.  Briefly,  I believe that, if  in 30 days you do not have at least ten showings and one realistic (even if not accepted) offer then look at the listing price.

One final key reminder about pricing your home to sell....You can't price too low, really!  You are not required to accept any offer.  If you price low, you may receive multiple offers with buyers competing with each other. 

Thinking about selling your Viera, Florida home?  Call or text me at 321-693-3850.

If you have a real estate agent already and your home is sitting, call your agent and ask about issues.   Be direct.  There is a reason a house is not getting the traffic

It could be price.  It could be an accommodation issue.  It could be preparation (or lack).  It could be you really are not motivated to sell right now. 

Communicate with your real estate agent.  He or she works for you!

agent@moving2brevard.com

Wednesday, January 18, 2017

Buying Your Florida Home - Should a Buyer Ask for Repairs?

Over the past year or more the Brevard County, Florida residential market has favored sellers.  A seller's market is simply an environment where there are more qualified buyers than available desirable properties for sale.

In a seller's market there are very often multiple offers.  In a multiple offer situation it is essential for the best offer to be put forward first because second chances may not be an option.

How does a buyer improve their chance of having an offer accepted?  First of all, it always comes down to price

Offering a reasonable price with the most supporting documentation like mortgage pre-approval, proof of funds letter and fewer contingencies with a quicker closing is a great start.  An experienced buyer's agent can guide prospective buyers to making their offer (within budget and time constraints) as competitive as possible.

Read about the differences between a mortgage pre-approval and a mortgage pre-qualification.

Here in Florida there are two standard contracts most often used by Realtors.  One is the standard contract and the other is an "as is" contract.  While both have the same inspection contingency option (always recommended) the standard contract also provides an opportunity to ask for potential repairs based on the inspection.  This can be in the form of a dollar amount or a percentage of sale price.

My experience has been that if there are real serious issues most buyers walk.  And if there is something uncovered at the inspection that needs addressing many sellers will deal with it at the time either in the form of a repair or price consideration. 

I have seen many contracts with dollars allowed for repairs become a punch list of nickel and dime issues.  These added headaches for a seller can be a reason to reject the potential buyer with a repair amount within the offer.

But, as alluded to above, buyers are not always out in the cold.   Even though an "as is" contract sounds like a take it or leave it condition that is not always the case.

Read:  Why would a seller makes repairs on an "as is" contract?

If you are getting ready to buy a home in Florida read this Cheat Sheet For Florida Home Buyers. 

The Florida home buying process is not really that confusing.  Read Contract to Closing in Twenty Steps!

Key point:  Anyone considering buying a home in Viera or Melbourne, Florida, hire a local knowledgeable real estate.

Need a Viera, Florida real estate agent, call or text me at 321-693-3850.

agent@moving2brevard.com

Monday, January 16, 2017

Buying a Home in Florida: Serious Buyers Take Serious Steps

I spoke with a couple recently who stopped by my open house.   While showing them the house our conversation turned to their target budget.   I was surprised they were looking in this neighborhood as the budget was at the upper end of most home prices nearby.

Then I asked if they had spoken with a lender.  The response was "not yet until" they found the house they liked.

That is when I realized they were not really interested in buying a such as looking!

Serious buyers take serious steps when preparing to buy a home.

What are serious steps?

First of all, it comes down to ability to purchase.   Unless one has a sizable amount of cash available most buyers seek a mortgage.

Key point:  If one is considering a home purchase anytime in the near future, it is never to early to consult a mortgage lender.

Ask your lender to provide a mortgage pre-approval letter.   This is different from a mortgage pre-qualification which means absolutely nothing! 

 

Read about the difference between a mortgage pre-approval and a mortgage pre-qualification.

 

The next step is to choose your Realtor.  Your real estate agent will guide you through the process.  Here are some helpful articles about the home buying process.

If you are looking for a home in Viera or Rockledge, Florida, give me a call or text me directly at 321-693-3850.

Considering selling your Viera, Florida home?  Call me for your free market analysis.

agent@moving2brevard.com

Sunday, January 15, 2017

Buying Your Florida Home: There are real reasons for price differences.

"The house down the road is bigger and priced lower.  Why is your house so much higher?"  That was the question I was asked yesterday by a person who stopped by an open house I was conducting.  First of all, the house was not down the road but in a different development.

My response was simple.... two cars parked in the same auto dealership parking lot are not automatically priced the same either.

When it comes to buying a house most buyers ultimately narrow their search down to perhaps a couple of houses, maybe three if inventory is available.  

And most often the main comparison criteria becomes price.  But there are reasons prices can be different.  When comparing properties consider the differences such as.....
  • Location.  Is one in a more desirable location? Could be the busy street, the nearby properties, proximity to community resources.
  • Condition.  This is one of the primary reasons similar properties are priced differently.  One house with a two year old roof is likely priced more than a home with a fifteen year old roof.  How old is the HVAC system?  Has the kitchen been updated withing past few years?  Does one have a trussed roof screened porch while another has an aluminum screen enclosure?  Flooring and paint may not be expensive updates but if one has it and the other doesn't then the pries will be different. 
  • Age of construction.  Homes in the same neighborhood may be ten or more years different in age.  That is the case if one is looking in the Viera area east of I-95 and west of I-95 in Brevard County, Florida.  Also building codes have been updated over the years so more recent construction may be considered safer, have lower insurance costs and be more desirable.    
  • Builder.  In our area there are subdivisions where the homes are very similar with very little upgrades (cookie cutter homes).  Then there are neighborhoods where the homes are semi custom or even custom built.  Design changes and upgrades do make a difference.  This can be seen in some of the homes in the nearby Heritage Isle 55+ community.  Some sections were built by other builders aside from the primary builder-developer Lennar Builders. 
  • Motivation.  One of the greatest influencers of home price is a seller's motivation.  In the end the market sells the price.  That means the buyer.

The key take away for buyers is this.... When your Brevard County, Florida home search has been narrowed down to a couple or three homes take a real look at the differences

If prices are close then really consider the differences and make sure you are comparing apples to apples.  Because two cars on the car lot are priced differently for a reason.

Ready to buy a home in Viera, Florida?  Call or text me at 321-693-3850.

agent@moving2brevard.com

Friday, January 13, 2017

Rockledge, Florida Home For Sale - $169,000

No one wants to air condition or heat unused space.  I saw a home recently that was about 3,000 sq.ft. but the owners had never lived in the top floor.  While having a big house is nice, in Florida the cost of cooling can climb!
There is a home for sale in Rockledge - located at 897 Brunswick Lane - that is compact and efficient.  It is not too small (1,338 sq.ft. under air) but very livable.  While there are only two "full time" bedrooms there is a third room which can be used as a bedroom (probably a guest room ideally). 

The sentence underlined above is to emphasize the layout.  The third room is off the kitchen (double french doors) and has a glass door that leads to the porch. Sure there is a closet but it is not very usable as a full time bedroom.

The two bathrooms have been completely renovated by the owner.  The garage door and opener were replaced in the recent past. 

The popcorn ceilings are gone with knock down applied.  The doors and frames were replaced.  The carpet in the bedrooms is a few years old but the carpet in the "third bedroom" and living room are recent.

VIEW MLS ENTRY AND PHOTOS HERE.

The roof was replaced in 2015.  There is an inside laundry room (with tub sink) that is not included in the sq.ft. under air.  There is a huge patio to the west side of the house and a huge covered patio/screen porch out back.

Another unusual feature is he concrete block stucco building out back.  It is about 10 by 15 and has electric and AC.  This building is also not included in the square footage.

Call me at 321-693-3850 to see this house.

agent@moving2brevard.com

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