Wednesday, March 29, 2017

Buying a Home in Florida - Respect the Process

The process of buying a home is really logical.  The steps are logical.  There is an order - and a reason - for each step along the way.

From "when to start looking" to "what time is the closing" the steps have a specified order as well timeline.

A major responsibility of the buyer's agent, which I take very seriously, is educating the prospective buyer about the home buying process in Florida. 

The more a prospective buyer knows about the home buying process, the easier it is to respect the process.

One of the first points I address with prospective home buyers is the importance of time.  The time necessary to close, the time limits for inspection, time line for loan processing, etc.  In real estate time is of the essence.   It says so in big bold letters in our Florida Realtors/Florida Bar Offer to Purchase contract.
Another point I make to buyers about time.... while I will always treat you as my number one customer at the time, you are likely not the only one at the time.

The reason I add this last comment about time is sometimes buyers may see a house and want me to stop everything where it is and schedule a showing at that moment.

I could possibly be at a doctor's appointment, listing presentation or even showing other buyers properties.  Still, that does not mean I will ignore your request.

The process of scheduling requires access to the MLS and either calling an office or scheduling online.  And some listings have 24 hour notice requirements, posted restrictive hours or even a loose pit bull named Satan on the premises (yes, has happened!).

I caution buyers to do not call on the listing agent to show them a house because "my agent is busy." The listing agent works for the seller and, when they find out buyers are working with an agent, will likely send them back to their agent.

Buyers and sellers should understand their Florida Realtor has obligations and responsibilities - to the process and to the customer whether seller or buyer.  And not to be overlooked - the other Realtor who he or she must play well.

Here are some related articles about the home buying process in Florida.

Thinking about buying a house in Melbourne or Viera, Florida?  Call or text me at 321-693-3850 if I can answer any of your questions or help in any way!

Call or text me at 321-693-3850 for help and information about buying a home in Florida.

Friday, March 24, 2017

Home Buyer Tips: Sometimes Buyers Must Revise Their Expectations

No matter how much you wish for steak there are times when you have to settle for a burger.  Such a time is when you are down to six bucks and payday is a week away!   

The same goes for buying a house.

Yes, I know a house is a much more significant purchase than a burger but the point is the same.     Tastes and desires will have to be moderated based on the available budget.

Home prices in Brevard County have risen significantly over the past few years as the market recovered from the last collapse.  But buyer acceptance of the recovery has been lagging a bit.

When do buyers recognize the market recovery?  Many times it is when they go shopping for a home in Brevard County.  Just a few days ago I read an article about whether one can buy a home in Florida for $100,000.  It is possible but not likely!

Median sales price for single family homes in Brevard County was $205,000 in February 2017 (up from $165,000 1 year earlier).  At the same time the number of new listings was down over 10% in February 2017 from a year prior. 

So what should a buyer do in the current market?  Well, if the budget is limited then the expectations must be changed. 

What expectations should a buyer consider changing?   It depends on the goal.   In general consider a location change very carefully.  In real estate there is one thing that can't be changed - the most important factor, location.

One day in the future every buyer will become a seller.  The most important factor when selling is location.  The impact location has on price today will probably exist when selling.

Consider size, age, amenities (pool, fireplace) as possible concessions.  There are benefits to home ownership so even if its not the perfect house the right house will still work well.

Just as a burger will solve a hunger issue for a period of time so will a smaller, less expensive home.  

Ready to buy a home in Melbourne, Florida?  Call or text me at 321-693-3850 if I can help.

Thursday, March 23, 2017

Brevard County, Florida Townhouse/Condo Market February 2017 (compared to February 2016)

Brevard County Townhouses/Condos for February 2017 compared to February 2016:
  • Closed Sales - up 2.8% for February 2017 in which the number of units closed was 185 compared to 180 in February 2016. There was a decrease in cash sales of -2.7% compared to February 2016.
  • New Pending Sales - down -10.6%.
  • New Listings - up 4.4%.
  • Median Sales Price for Townhomes/Condos - down -2.3% to $139,900 compared to a year ago, which was $143,232.
  • Months Supply of Inventory - down -4.9% to 3.9 months compared to 4.1 months in February 2016.
  • Traditional Sales - up 9.3% with a median sales price of $143,000.
  • Foreclosure/REO Sales - down -55.6% with a median sales price of $117,237.
  • Short Sale Closings - no change in number of closed sales with a median sales price of $87,000 in February of 2017.   


Wednesday, March 22, 2017

The Biggest Obstacle to Selling Your House

I read an article this morning about the top home buyer and home seller regrets.  Not surprisingly the top seller regret is not spending enough time in prepping their home for the market.

This goes right back to the key to selling -  The Three Ps of selling your home.  

While a good professional real estate agent is crucial to selling your home it is also critical that a seller be a willing, active participant.

So what is the biggest obstacle to selling your home?  Emotions.  Regardless of the individual (seller, buyer, seller's agent, buyer's agent or whomever), the biggest obstacle will always be emotions.

I tell my buyers to relax you are buying a house, not having a baby!  The same goes for everyone.  Calm, patient, respectful and minimally emotional...that is the best way to sell a house!

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