Thursday, June 30, 2016

Home Buyer Tips: New Paint is Not Always a Good Thing

Fresh paint sounds like an automatic positive selling point.  In many cases it certainly would be.  But, as a buyer, there is one time when new paint may not be your friend. know, investor quick sales. 

No, this is not an accusatory post. 

Rather, consider it as a cautionary post.

As a general rule sellers disclose and buyers verify.   But very often investors are quick to point out they have "no disclosure because seller never lived in house."

Still investors should know if they previously repaired a leak in the roof, had an AC issue or whatever if there were tenants in place for any given time. 

And with a foreclosure sellers may have idea of previous issues based on the condition when purchased.

So when buyers walk into a new foreclosure flip, the new paint will look clean, the plumbing fixtures and the like will be new but what about any underlying issues.

That is the reason I always urge buyers to have a property inspection performed.

While a property inspector may not be able to tell a prospective buyer what is behind the paint they may be able to tell if moisture is present.  And they do a lot more!

Here are a few more articles on buying a home.
Ready to buy a house in Viera, Florida?  call or text me at 321-693-3850 if I can help in any way.  If you prefer, send me an email.

Friday, June 24, 2016

Things Sellers Say..."I don't have to sell" and more.

Anyone who has ever been on more than a few listings appointments has likely heard the words "I don't have to sell" uttered.  To be honest it is most often followed by a "I am not going to give it away" statement.

As a Melbourne, Florida real estate agent I don't get defensive or respond to these comments in an adversarial manner.

Very often, what is said is not what is meant. 

So, what does it really mean?

On the surface it means...uh oh...not motivated!  

The gut response from an agent who is only interested in listing their house is "Why did you call me then?"

But deep down it could mean something else...

Any real estate agent worth listing your home for sale (good real estate agent) should have the skill-set to address this response appropriately.
  • Part of being a good real estate agent is being a good listener.
  • Part of being a good real estate agent is knowing what questions to ask (and when).
  • Part of being a good real estate agent is being able to advise in a positive, reassuring, easily understood manner.  
  • Part of being a good real estate agent is knowing that "Why did you call me?" is rarely an appropriate response.
"I don't have to sell" may really mean  "I have an interest in selling but I am not desperate." 

It may signal a distrust of the real estate agent in front of them at the moment. 

It may be the seller's way of saying...Tell me why I should hire you to sell my Melbourne, Florida home.
Sellers need to know their real estate agent is working for them and not against them.
Part of being a good real estate agent is being a team builder beginning with the prospective seller....even if they don't have to sell!

Ready to sell your your Melbourne, Florida home?  Call me or text me at 321-693-3850, please!

Tuesday, June 21, 2016

Brevard County, Florida Town House/Condos Market Report for May 2016 compared to May 2015

Presented here is a recap of the Brevard County, Florida Townhouse/Condo market for May 2016 compared to May 2015:

  • Closed Sales were up 10.5% in May 2016 with 262 units closed compared to 237 in May 2015 with an increase in cash sales by 4.8% in May 2016.
  • New Pending Sales are up 4.2% and New Listings are up 4.3%
  • Median Sales Price for Town homes/Condos stayed the same at $140,000.
  • Months Supply of Inventory is down 9.8% to 3.7 months compared to 4.1 months in May 2015.
  • Traditional Sales increased 21.8% with a median sales price of $143,200.
  • Foreclosure/REO Sales were down 61.3% with a median sales price of $110,200.
  • Short Sale Closings were down 49.7% with a median sales price of $102,550.

Brevard County, Florida Residential Report for May 2016 Compared to May 2015

A quick recap of the Brevard County Residential Market for May 2016 compared to May 2015:
  • Closed Sales rose 2.6% in May 2016 with 942 units closed vs. 918 in May 2015.
  • Cash Sales decreased 18.2% compared to May 2015.
  • New Pending Sales increased 6.2%  over the previous May sales.
  • New Listings also increased in May 2016 by 3.8%.
  • Median Sales Price for Brevard Single Family homes were up 11.4% to $185,000 compared to $166,000 a year ago.
  • Months Supply of Inventory decreased 10.3% to 2.6 months compared to 2.9 months in May 2015.
  • Traditional Sales were up 12.9% with a median sales price of $190,000.
  • Foreclosure/REO Sales went down 44.1% with a median sales price of $131,000.
  • Short Sale Closings were down 41.7% with a median sales price of $99,950.

Monday, June 20, 2016

But It is the Seller's Fault!

I have been hosting open houses more frequently lately to provide the best exposure of my sellers in light of the lower  inventory level of homes for sale in Brevard County, Florida.   And there are certainly benefits to the open houses, for sure.

Still, some people who are looking at homes for sale  are the most negative people I have ever met.  
My term of endearment for them - Negative Nellie.  Many of these exhibit the same state -
  • denial a home in the neighborhood could be priced so high...
  • denial that home prices in their budget can't be found in the area... 
  • denial that home prices increased more than 15% in the last year....
  • denial that the market is a seller's market.  [Inventory is about 90 days which typically means seller's market.   In Brevard County it is a seller's market.... more buyers shopping for fewer homes available.]
As I address these folks concerns about the real estate market and trends I try my best to convey that it is not a specific seller's fault. 

Just as when it was a buyer's market with falling prices I reminded sellers that it isn't the buyer's fault their home's value was lower.

Still, it is what it is...the real estate market.     There will always be negative folks.

Monday, June 13, 2016

Look For a Realtor Who Can Pull Off the Triple Play When Hiring a Real Estate Agent to Sell Your Melbourne, Florida Home?

It is baseball season so let me first put hiring a real estate agent in baseball terms.  This may be all the explanation anyone looking to choose a Realtor to sell their Melbourne, Florida home will need.

In the game of baseball a team is less likely to pull off a triple play with rookie players at the key positions than with experienced personnel.  When the ball comes the player better know what to do with it.

In real estate the ball is the property and the players are your team.  As a seller you want the play completed without a costly error.   

The real estate agent's triple play (offer received, contingencies cleared, sale closed!).

I  believe the largest real estate offices are not as motivated to sell your Melbourne home because they have plenty of listings.

My self serving advice on hiring a real estate agent to sell your home... Consider a small office who is focused on results.

All real estate agents are not the same.   All real estate brokerages are not the same.

Waters Realty of Brevard is not just any other real estate office.  Waters Realty is me.   Why do I not have a lot of agents working with me?  Because my reputation is protected by limiting my exposure. 

I am Waters Realty of Brevard.  Nothing matters more than the customer experience when working with me.  I am what you see. I am fair. I am honest. I tell you what you need to hear.  I always respect your time.   I have lost business because I would not go against these self imposed principles.

It is the customer's experience and nothing more that matters to me.

While most agents have access to the same data and many of the same tools it is the whole package - knowledge, marketing plans, experience, availability and process management skills that separate me from others.

I have written over two hundred posts about how to sell your home.  Here are three to get you started.
Ready to hire an agent to sell your Melbourne, Florida home?  Lets talk.  Call or text me at 321-693-3850.

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