Deborah Ward – Page 14

Why Are Zillow Zestimates So Far Off Sometimes?

October 27, 2021 By Deborah Ward

You’ve seen the commercials, you know, the ones where people find their dream home and just know they can afford that house in the neighborhood they can’t afford to buy in because the Zillow Zestimate said so. It’s a nice commercial, but it’s not telling you the truth.

Automated valuation models

Zillow, and others, use something called automated valuation models or AVMs to figure out the value of a property. They use it to help buyers make a buying decision, given that 90% of buyers start their search for a new home on the internet.

The technology works something like this. They amass tons of information that are publicly available sources and put them through a sophisticated algorithm to predict value. It seems like it should work like a charm, but Zillow’s Zestimates are rather inconsistent.

Several factors that will affect pricing

A Realtor will tell you that the market can change from week to week and neighborhood to neighborhood. No algorithm, however sophisticated, can do things like quantify the value of a kitchen that was recently updated or a poorly maintained home.

That means that there are several factors that will affect pricing that aren’t part of the AVM. What it really can only do is look at closed sales in a particular zip code and get the average.

That is certainly not going to give you the right figure of either a sales or a buying price. If that neighborhood is out of reach it’s a pretty good bet that the AVM estimate that says you can buy in is most likely off. If you want to know for sure, call a Realtor.

We are always here to help! Give us a call today 727-410-0336

How To Market Your Small House For Sale

October 27, 2021 By Deborah Ward

You live in the cutest house. It’s not big, in fact it’s rather small, but it fit you perfectly, until now. Now you need to move, either to upsize or for a job, and sell your adorably small home. We aren’t talking tiny home, but smaller than most of the other homes in the area. So how do you market your home to sell?

Well, just like any other home! Do the same things the owners of those bigger homes are doing. Just on a smaller scale.

Decluttering your home before sale is actually a hugely important thing with a smaller house. Clutter will make it look ever smaller than it is. Making rooms light, bright and bigger is important. Clean it thoroughly and update wherever you can.

When repainting, go for lighter hues to give an airy and bigger feel. Remember, dark colors make a room feel smaller. Move bigger furniture out to storage and keep smaller, cozier pieces in place. You may love your king size bed, but if it takes up the whole room, it’s not a plus!

Is your small house a cape cod? Dress up those window nooks to be cozy spaces to sit and read or escape from the world. Make all available space livable. Finish the attic or basement (or both!). That bonus space will really help. Make everything as maintenance free as possible.

Target your updates to your target buyer. That would be a first time buyer or a downsizing buyer. A first time buyer usually can’t afford a bigger home, so a smaller first home is their usual go to.

Your downsizing crowd has had the big, costly and time consuming home and wants to lighten that load. Your smaller home, will less rooms to clean, lower utility bills and taxes is just what they are looking for.

A small home isn’t a liability when selling, just know how to market it to the right buyer and it will sell in no time!

Fun Facts About Real Estate Home Sellers

October 27, 2021 By Deborah Ward

Did you know that knowing demographic information about whose home you are buying can help you get the best deal for the home you want? According to the NATIONAL ASSOCIATION OF REALTORS® 2021 white paper entitled “Profile of Home Buyers and Sellers” spells out the characteristics of home sellers from June 2020 through June 2021.

So what are those statistics?

Well how about that the typical home seller was 47 years old in 2021, or that sellers typically lived in their home for 10 years before selling.

Want more? How about that recently sold homes were on the market for a median of 3 weeks,

Let’s also not forget that 88% of home sellers worked with a real estate agent to sell their homes, The smart ones anyway!

Common reasons for selling

The report also talks about the most common reasons for selling. The first most commonly cited reason is the desire to move closer to friends and family and the house to small is the second commonly reason.

Some cool fun facts about price

The median final sales price for recently sold homes was 99% of the final listing price and those homes were on the market for an average of 3 weeks.

You know what else? 33% of all sellers offered incentives to attract you, the buyer and one more… the home sellers sold their homes for a median of $66,000 more than they purchased it! One of the better reasons to own a home! It nearly always makes you money in the long run.

Terrazzo Flooring – A Legacy of Old Florida

October 27, 2021 By Deborah Ward

Terrazzo flooring has a long history and with the heavy influence of Spanish and Mediterranean architecture in Florida, is rather popular. Look around and you will see it in all kinds of places, buildings, businesses, homes and walkways.

Terrazzo is a composite material, poured in place or pre-cast, which is used for floor and wall treatments. It is made from marble, quartz, granite, glass or other materials in chips, held together with a binding material. Terrazzo is laid, cured and then ground and polished to a smooth surface. It looks beautiful, and like it should be bumpy, but has an amazingly smooth, yet textured surface. Terrazzo artisans create walkways, floors and patios by exposing marble chips and/or other aggregates on the surface of finished concrete or epoxy-resin, almost like it was sprinkled into the concrete.

Terrazzo flooring was originally invented by Venetian construction workers. Large slabs of marble were heavy and expensive. Terrazzo was a low cost flooring material using marble chips from jobs they had done. The workers would usually set them in clay to surface the patios around their living quarters. When first invented, the floors would be made from marble chips, clay, and goat’s milk which was used as a sealer. Obviously as time and technology has improved, production of terrazzo became much easier and relied less on goats milk!

While the modern versions are Venetian in origin, archaeologists use the word terrazzo to describe the floors of early Neolithic buildings (9,000–8,000 BC) in Western Asia, eastern Turkey and other ancient middle and far eastern cultures. The floors are very durable, surviving thousands of years.

Today’s terrazzo floors may not last thousands of years, but the beauty that they add to any room, home or building will make it seem as if they have been there for centuries!

When Is A Good Time For Move Up Buyers To Sell?

October 27, 2021 By Deborah Ward

You knew it would happen when you bought your home: you outgrew it. Now that there isn’t enough space you need to sell and move up. As they say, timing is everything and real estate is no different. So when is the best time to sell so you can make that move?

Trends

There are no absolutes, of course, but generalizations can show trends. It’s generally accepted that spring is the best time to list to sell.

It’s a statistical fact that 50-60% of homes are sold during the summer. Let’s explore some of the reasons that Realtors say makes spring and summer the best time to sell.

Spring

Spring is such a lovely time of year. The grass and trees are green, flowers grow and bloom. Your yard looks better, green and lush. The cold winter warms into a beautiful spring, short days get longer. Let’s not forget that buyers come out in droves to find a new home. There are many factors that contribute to this.

One is just the fact that winter is over and like the growing plants, it’s time for something new. Who wouldn’t want to move out of a small apartment and have a home that they can plant, decorate and treat as their own?

Longer days mean more time to look and let’s not forget that those new smaller families are looking to buy and move during the school break so the kids don’t have a huge disruption in their education. They want their kids to have some time during the summer to start new friendships before heading back to the classroom. It’s also much easier to move when it’s warm!

If someone is coming from a cold climate north of Florida, they sure don’t want to be moving in the snow!

So what does that mean for you, the seller?

Let’s start with a bigger chunk of cash in your bank account. It seems like it’s counterintuitive that high supply will end in higher prices. Economics 101 says that shouldn’t be the case. Economics 101 would be wrong when talking about real estate.

The reason for this is that demand is also high during this season. In other words, since there are more buyers with demands for the supply of homes, that supply is actually considered less, even though there are more than other seasons. That also means that you can ask for more than you would be able to in other times of the year.

Appraisals

Those higher price tags will mean that your home will appraise for more too. How that works is that a home appraiser looks for homes that are comparable to yours. If those homes sold for more, your home will appraise for more as well. Being that there are more sales, there are more homes to compare. In other seasons when the sales are fewer, there are fewer homes to use in a comparable. In other words, more data from more homes is much better for you, the seller.

Did I mention bidding wars?

Yes, with all those buyers looking, your chances of having a few bidding for your home at the same time is higher. Multiple offers mean more money for you, and less headaches due to buyer demands. Demands for what, you ask? Repairs, concessions in price or requests for help paying closing costs, and contingencies for financing. A cleaner sale is a faster sale, so that will give you the time and money you need to buy your next home.

Strategy

Which leads to your last reason that spring is a good time to sell and move up… selling in the spring or summer means you are looking in the late summer or fall, when it is much better for you to be a buyer. Situate yourself to be in the best position to both sell for the most and buy for the best price. It’s about strategy!

Thinking about selling your home? Give us a call today for free information about listing your home! 727-410-0336

The Sage Condos St. Pete Florida

October 27, 2021 By Deborah Ward

Looking for a great condo in St. Pete Florida? Go have a look at the Sage Condos! Amazing downtown condo living in St. Pete.

Condo living is a great way to own your home without having to do the maintenance that a single family home has. Condo’s can be big with a lot of square footage, or smaller like a 1 or 2 bedroom apartment.

Either way you have help with keeping things maintained. Part of your expense to live in a condo is a fee to help with that maintenance. However, keeping the outside in tip top shape, keeping the hallways and common areas clean and in good repair would be a huge job for the owners to do, and paying someone else to do it is what you looked at condo living for in the first place.

The Sage Condos in St. Pete Florida are a fabulous condo community. The units are luxurious and range from 869 to 1493 square feet and are 1 or 2 bedroom condos. Apartment living with the plus of ownership. They have spectacular views of downtown St. Pete Florida from the 12 foot windows and great balconies. The Sage has 112 units and has amazing amenities. The Sage Condos feature a pool, a must in Florida, elevators and a Fitness Center. It’s a gated community for added security. No on street parking, there is secure parking for your cars. This is great condo living in St. Pete Florida!

The condo community has a few condos for sale among its 112 units. Prices range from $159,000 to $299,000. The value for the dollar is incredible.

Want to find out about available properties or how to list your condo for sale, give us a call today! 727-410-0336