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Most home sellers enter the process with an expectation of competition among buyers, a higher than list price offer, and a smooth closing. But not every offer will be full price or even close. Still, it is an offer.Sellers need to understand two inter-related things on day one: the quality of an acceptable offer (price, terms), and,the minimum they will accept (walk away proceeds). Once the minimum acceptable terms are known sellers can respond to offers in one of three ways: Accept. Reject totally with no counteroffer. Reject with a counteroffer presented. Here are additional articles on buying and selling a home in Florida: Offer, Counter-Offer, Negotiate, Close - Steps to Buying Your Florida Home.How Does a Seller Respond to an Offer in Week One? Does it Matter if Buyer's Offer is Cash or if Getting a Mortgage?Sellers Always Negotiate.Association Fees Have Little to Do with Your Offer Price.Why would a Seller Make Repairs on an "As Is" Offer?Keys to a Successful Closing.Cheat Sheet For Home Sellers.Please call or text me at 321-693-3850 if you are considering buying or selling a home in Melbourne, Florida.
Presented below is a recap of the Brevard County Residential (single family home) market for August 2016 compared to August 2015 as provided by the Florida Realtors/Space Coast Association of Realtors. Closed Sales - Increased 1.5% in August 2016 with 879 units closed compared to 866 in August 2015 with a decrease in cash sales by -26.1% compared to August 2015.New Pending Sales - Up 1.8%.New Listings - Up 7.4%.Median Sales Price for Brevard Single Family homes - Up 14.7% to $195,000 vs. a year ago which was $170,000.Months Supply of Inventory - Decreased -7.4% to 2.5 months compared to 2.7 months in August 2015.Traditional Sales - Up 15.1% with a median sales price of $200,000.Foreclosure/REO Sales - Decreased -64% with a median sales price of $109,450.Short Sale Closings - Down -29.4% with a median sales price of $127,500.
Presented below is a recap of the Brevard County Townhouse and Condominium market for August 2016 compared to August 2015 as provided by the Florida Realtors/Space Coast Association of Realtors.Closed Sales - Up 10.7% in August 2016 with 258 units closed compared to 233 in August 2015, with an increase in cash sales of 4.9% compared to August 2015.New Pending Sales - Up 7.6%.New Listings - Up 3.4%.Median Sales Price for Townhomes/Condos - Up 16.7% to $154,000 compared to a year ago ($132,000).Months Supply of Inventory - Up 6.2% to 3.4 months compared to 3.2 months in August 2015.Traditional Sales - Up 24.1% with a median sales price of $158,500.Foreclosure/REO Sales - Down -56.3% with a median sales price of $63,000.Short Sale Closings - Down -66.7% with a median sales price of $112,450.
I received a phone call yesterday from someone asking about Jameson Place condos in Rockledge, Florida. The caller wanted to know if it was good complex. Although the caller did not say it I got the impression she had read one of my blogs about homes for sale in Viera and Rockledge, Florida. The thing she really liked about the complex was the fees were realistic (under $200 a month). A side note on condo fees: Like taxes, association fees can change based on the circumstances, needs of complex, reserves, insurance costs, etc.Jameson Place is in Rockledge, not Viera, which means owners do not pay additional Viera planned unit development fees. But Jameson Place is on the border (literally hundreds of feet) with Viera so people sometimes forget its not Viera.Jameson Place is convenient to major routes US 1 and Interstate 95. Jameson Place is ideally suited for most commutes whether driving to Orlando, the Kennedy Space Center or Patrick Air Force Base. With its community pool, playground and nearby parks, Jameson Place offers its residents a comfortable lifestyle at very affordable prices. Association fees are in the $150-$160 per month range. With excellent schools nearby (public and private) as well as parks and medical facilities, Jameson Place deserves consideration if one is looking to purchase a condo in Viera or Rockledge.What is currently for sale at Jameson Place Condos in Rockledge?Currently there are three units for sale in Jameson Place. Two of the units are three bedroom two bath properties priced in the $150,000-$160,000 range while the smaller unit is juts under $130,000. All are standard sales and have been on the market about two weeks. There are another four standard sale units under contract awaiting closing. , List prices for these units are slightly under current list prices.What has recently sold in Jameson Place in Rockledge, Florida?Over the past six months there have been twenty one properties sold in Jameson Place. Selling prices ranged from $114,250 to $152,000. But in a market such as Brevard County, it is what has sold recent that tells the real story. Since May 1, 2016 all sales except one have been standard sales.More recent sales in Jameson Place (since September 1, 2016) included these two units. One unit, located at 4116 Meander Place #204, was a two bedroom two bath one car garage unit with 1,230 sq.ft. under air which sold for $139,000 (96% of list) on 09/06/16.The other unit was a three bedroom two bath one car garage unit with 1,473 sq.ft. under that sold for $148,500. Located at 4086 Meander Place # 202, this property was on the market for only twenty five days and sold for 99% of list price.For information on buying or selling a condo in Rockledge, Florida including Jameson Place and the nearby Ventura at Turtle Creek complex, call or text me at 321-693-3850.
The title question is a an open ended question. There are multiple ways to not sell a home. In all likelihood the biggest reason no offers come is price. One of the first questions most sellers wrestle with is determining the selling price.So how does a seller determine the listing price? One answer I heard recently was " I paid this much for it plus I have put this much into it. Besides, my home is better than all the others in the area so your comps do not do it justice."In an ideal world the above answer would be the ideal answer. But we do not live in an ideal world.While showing homes not long ago a prospective buyer asked me how much value a pool would add when selling a home. My response was simply "not as much as you will pay for the pool. Install a pool if you're going to use it!"Determining how much your home will sell for is a function of multiple issues and characteristics. Some of those include...How old is your home? What is the condition of your home? Where is your home located? What are the competing properties? Has there been any major updating? What about any major systems issues (roof, AC, electrical and plumbing)? What are the current market conditions? Who are your potential buyers? And a few more depending on the property.How does a seller determine the projected selling price? Call a local real estate professional and schedule an appointment for a comparative market analysis and consultation.Ultimately, the market will determine the real price. If one hires a knowledgeable local agent and follows their advice as well as cooperates with reasonable showing requests...there is no reason for failure.
While holding an open house recently I had a visitor remark they "were buying a house in a couple of months."My follow up conversation brought to light three red flags. The lack of understanding about how long the purchase process takes; No effort was made to obtain mortgage pre-approval or pre-qualification; Friend who does mortgages. Why are these red flags?First, this is a first time home-buyer who really had not been educated on the process. Since he had no real estate agent that is quite understandable.The first step in the home buying process? Get a local knowledgeable real estate agent you can trust. Here is a quick summary of the home purchase process in Florida - Contract to Closing in Twenty Steps! Who pays for the buyer's real estate agent? The seller. Secondly, a seller (and a real estate estate) wants to have some confidence of a prospective buyer's ability to pay. Seller's do not want to take their home off the market without confidence the transaction will close. Real estate agents get paid only after a deal is closed.Unless paying cash, it is critical a prospective buyer know what they can afford (including acquisition costs). If a buyer can't afford a property everyone is just spinning their wheels!Lastly, buying a home is very often the largest financial decision many buyers make. Trusting a "fiend," relative, or anyone without an understanding of their experience is a major risk.Take a look at these home buyer articles.When Do You Talk to the Mortgage People?Why Does it Matter if I Work with more than one agent?Why Won't a Realtor Just Go Show Me Houses?Contract to Closing in Twenty StepsHow to "View" a ListingOffers, Counter Offers, Negotiating...Buying Your Florida HomeBuying a Home in Florida - Keys to a Successful ClosingFinding the Perfect "Imperfect" HomeIf you have questions about the home buying process in Brevard County, Florida, call me at 321-693-3850.
When I speak with prospective home sellers in the Viera, Florida area I like to point out the difference between having a home "For Sale" and home "listed" in the multiple listing service (MLS).Put another way.....There are two types of agents to choose from - "Listing Agents" and "Seller's Agents."What is the difference? Mechanics and results.There are the mechanics of listing a home which most real estate agents can manage to complete. Then there are the results... Sold! Sold! does not just happen. Sold! is the culmination of a planned process with a realistic achievable goal.What does the process involve? Beyond the basic steps like listing agreements, disclosures, signs, entry into the MLS system, etc. there are the details of the process like providing advice and counsel regarding pricing and preparation. There is the communication and responsiveness to the client and prospective customers/buyers. There is the development of a marketing plan that makes sure the pool of most likely buyers know the home is for sale (more than a sign and MLS entry).Here are a few articles on the home selling process...Home Seller Tips: Pricing, Preparation and PresentationSelling an Imperfect Home.Pre-Listing Efforts Pay Off! Have a Pre-Listing Appraisal - On Me!A Cheat Sheet For Home Sellers.When Selling Your Home, Turn Down the Noise! For additional information on how to sell your Melbourne, Florida home, call or text me at 321-693-3850. Remember, real estate agents get paid when property is sold - not listed.
Grey Poupon is a brand of whole-grain mustard. I remember many of the commercials on TV where some person asked "Pardon me, Do you have any Grey Poupon?"The point of the commercials was simple - distinguish yourself from the competition and get noticed.To me Grey Poupon is not just mustard because I see it differently from any other yellowish condiment. The marketing and presentation made it stand out.How does this apply to selling a house?In many communities, like our Viera (Melbourne), Florida planned unit development, many of the subdivisions are "cookie cutter" developments built by a single builder with only a handful of models. While some have different front elevations on the surface there is not much difference. Not only does this apply to single family homes but this can be especially a challenge when selling condos where there are usually only maybe four different floor plans in an entire complex. The challenge when selling is to differentiate your home from the others...distinguish yourself and get noticed.The seller's real estate agent must put together a marketing plan that makes the home stand out. Of course the easiest way to make a house stand out is price. Some sellers take this approach by pricing at the lower end of the market and thereby encouraging competition among buyers. When the inventory is low this could be a great approach.Your house may be gold on the inside but in some communities it may look the same from the outside.... Start the selling process by thinking "Grey Poupon." After all, your house is not just a house. Image courtesy of Sira Anamwong at FreeDigitalPhotos.net
There has been a lot of discussion about the benefit of an open house - especially for the seller. The reality is very few homes are ever sold by the agent at an open house.Not every house is a candidate for an open house either. But, if an open house is considered then there are preparations required by sellers and their real estate agent. Consider this incident... "Real estate agent reportedly lets in jewel thieves during open house; $150,000 in loot stolen" Among the several thoughts that came to me was Glad it wasn't me! Some of the other thoughts included The headline makes it sound like the agent was almost a willing party who "lets in" the crooks.It appears there was only one person on site.The preparation phase was inadequate.You never know who is watching.I am sure the agent did not open the doors to the thieves on purpose.An open house brings all sorts of unknowns into the process. The neighbors, tire kickers, people just wasting time and an occasional prospective buyer may show up at an open house. Thieves can easily dress up as a buyer and even ask the right questions! It is incumbent on a listing agent to determine the requirements of the open house and bring additional persons to help in the case of a large property.Sellers need to be aware that strangers will be perusing their home. Most real estate agents do not have personal knowledge about the character of the customer. Sure, the buyers are pre-qualified based on ability to purchase and motivation but anything else is rarely known.Sellers must prepare for selling by removing or securing valuables especially highly pilferage-able, small items like jewelry, money, laptops, etc. Sellers should secure items like firearms, medications, and important personal papers (financial, passports, etc).Finally, the good news... There was a surveillance system. Real estate agents and buyers need to always be aware that they are potentially being video-recorded. In this case the agent did not have to try and explain the missing property!The seller did indicate that this was his last open house. His advice - "appointment only.'" After all, you never know who cometh through the front door!Ready to sell your Melbourne, Florida home? Call or text me at 321-693-3850 for your market analysis.“Character Thief In Good Person” by kittijaroon provided by freedigitalphotos.net
One of the keys to selling your Melbourne, Florida home is to hire a real estate agent who is not only local but also knowledgeable. I always recommend sellers interview at least three agents before deciding who to hire. [For more, read the related article links at bottom of post.]But these real estate agent interviews are like a boy picking up your daughter for a first date. They know they are going to be quizzed and better be on their best behavior with the right answers!Sellers are at a disadvantage because these these agents will likely all appear to be knowledgeable. All will probably be dressed to impress, responsive to questions and saying what you want to hear!My suggestion is don't do the initial interview in your home but at this really really secret location....At a nearby open house.I call this the "just browsing" screening process. Choose homes for sale ideally in your neighborhood or another nearby neighborhood. Stop by and take a look. Be a browser.Observe how the agent presents them-self to all visitors. You know what you like and don't like in sale people. And real estate agents are primarily sales people. Are they employing pressure and arm twisting? Are they knowledgeable about the product (listing)? Do they make you feel comfortable? Ask them about the neighborhood. Ask them about home prices and seller attitudes. Don't ask the easy questions. Ask about homeowner associations. Ask them about criminal activity. What about school quality and school assignment areas. See how far out on a limb they will go with answers. A good local real estate agent will also know the limitations of their knowledge as well as potential liability. Do not be surprised if you get advised to call the schools or local law enforcement folks for answers. This is not the final selection process. You may not find the agent you are going to hire but you may just find some to skip when the interviews start for real! I like to tell new agents to always expect any contact at an open house to be an interview.By the way, this "just browsing" interview technique works well for prospective buyers who can have a relaxed, no pressure consultation! Twelve Rules for Buying or selling a Home in FloridaTwelve Articles to Help You Be Better Seller.Understand the Process From "For Sale" to "Sold"Thinking about selling your Rockledge, Florida home? Call or text me at 321-693-3850.
Florida Realtors and National Assoc Realtors News
Meet the 2016 Good Neighbor Award Winners September 27 2016
Repeat Home Buyers Are Vanishing September 28 2016
Where Buyers Can Get the Most Loan Help September 28 2016
Appraiser Shortage Sparks Sales Delays September 28 2016
Waters Realty of Brevard LLC welcomes you to our comprehensive real estate website covering all of Brevard County, Florida. Just some of the the cities and communities we serve include Melbourne, Viera, Suntree, Merritt Island, Rockledge, Cocoa Beach, Satellite Beach, Port St John, Cape Canaveral, Indian Harbour Beach, and West Melbourne.
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