Sunday, March 31, 2013

Out of town buyers with out of town expectations

Regardless of the issue we use prior experience as a basis for decisions on any similar matter.  Such can be the case with real estate.

An experienced home purchaser will use the previous experiences whether good or bad as a reference point when buying another property.  This is a very prudent approach.

But when one goes into another area, especially another state, to make the purchase some of these out of town processes could be less useful.

Real estate is all local - prices and practices.

If you plan on purchasing a home in Florida remember "the way it is done back home" may not be applicable here.

Likewise, and probably more important, the real estate prices back home may not correlate at all with the prices of homes for sale in Florida.

For both of these reasons when you decide it is time to purchase a home in Florida I strongly suggest you select a local real estate expert early on in the process - before you even get here.

If you are considering buying a house or condo in Brevard County, Florida, call me at 321-693-3850 or email me.  I will gladly set up a search of the MLS system and automatically send you listings meeting your desires.

Friday, March 22, 2013

Turn down appointments, turn down opportunities to sell.

The key to selling your home is accessibility   Assuming you have it priced somewhere in the realm of reality, prospective buyers will want to view your home.

Still I have experienced a few issues showing ready, willing and able buyers homes in the Melbourne, Florida area this week.

First is the notorious, "please come back tomorrow."  In this case the office had given the approval and we arrived. I rang the door bell and the owner tells me politely "the home was not in showing condition today but will be tomorrow."  This home has been on the market two months so this was a puzzling response.  SoI left with my excited buyers very disappointed.

Another obstacle is the "show it after 5:00 p.m. only" or the "show between 3 and 5 only" or "the show only on weekends" situations.

There were one of each of the above and we chose not to see any of them.  The good thing was my buyers found the ideal home anyway.

Turn down appointments, turn down opportunities to sell. 

Pretty simple.

Thursday, March 21, 2013

What is Title Insurance?

We all understand the concept of insurance.  Insurance provides some type of protection in the event something untoward happens in the future.

Title insurance is the opposite.  Title insurance protects against some event that happened in the past that casts some doubt on your ownership of real property (your home).

There are two types of title insurance – an owner’s policy and a lender’s policy.

The cost of title insurance in Florida is promulgated at a rate of $575 for the first one hundred thousand dollars in protection plus $5.00 per thousand thereafter.  For example, $200,000 in coverage will cost $1,075 ($575 + $5  times 100) for an owner's policy.

Usually, in Florida, the full charge is applied to the owner’s policy and a reduced rate is charged for the lender policy if it is a simultaneously issued policy.

While computerized record keeping means less error the potential always exists that something happened along the way to you obtaining your property that could cause a title question.

Title insurance is an inexpensive way to protect a large investment.   You only pay the fee once but the coverage you get is for your lifetime!  Imagine if other insurances were so inexpensive!

Wednesday, March 20, 2013

Competitive Listings are like Good Fishing Holes...that is where the action is!

I stopped by Heritage Isle one of the premier 55+ communities  in Viera, Florida earlier this week to pick up some floor plans to mail to an out of state buyer.

While there I found myself waiting in line while buyers were placing their order (choosing colors, etc) for a new construction home.  I always take advantage of an opportunity to view the model homes so while waiting I walked though one and saw another four or five people.

All of this activity is a good thing!

Yes, the real estate market is changing.

fishingI was showing a new foreclosure listing last week and had four other agents and their clients show up within a half hour of our appointment.

Again, a lot of activity is a good thing.

Before my buyer could decide that the foreclosure was worth an offer there were five offers and one accepted. 

The real estate market is changing has changed.

As I head out this morning to show homes to prospective buyers in from Chicago I wonder if we will run into more folks at the homes we are viewing.

As I said, a lot of activity is a good thing for sellers.

Good listings are like good fishing holes...that is where the action is!

When you decide to sell your Viera, Florida home make it the center of activity!