Deborah Ward – Page 24

How Real Estate Agents Determine How To Price Your Home

October 27, 2021 By Deborah Ward

Have you ever wondered how a Realtor determines the value of the homes we list? While the process may differ from Realtor to Realtor, we all use the same basics. It’s no big secret, so here are the basics.

A lot of experienced Realtors often have a “gut” feeling about what a home is worth, but we always back it up with the facts. One thing they use is a Competitive Market Analysis (CMA).

This is a pretty comprehensive report that takes a lot of things into consideration. First, a CMA will look at homes that are similar in size, features and amenities and that have sold recently.

That first part will give a starting range. Next, we look at home that are currently for sale.

While not as concrete as an actual sale, it can help narrow the range a bit by seeing what features and amenities are fetching a higher asking. In the same vein they also look at homes that failed to sell.

If a home that is very similar to the one we are pricing failed to sell, we can look to see why and avoid the same fate. Looking at all of these factors, along with anything special or unique about the property, such as it being waterfront property or having a lot of acreage will give the Realtor a tighter range.

Now we consider market factors. This is a big part of the equation. The market basically means are there more sellers than buyers, making it a buyers market, or more buyers than sellers, making it a sellers market.

Other things factor in, such as is there a lot of new construction in close proximity? What is nearby, as in shopping, dining and entertainment, and schools? How is the economy in the area; healthy and growing or downward and dying?

Using all of this, we then take the owner into consideration. Not only what the owner expects to sell for, but also how they will help or hinder the sale. Will they keep the home in showing condition or leave messes? Will they restrict showings and so on. The Realtor may lower their estimation based on the CMA and market factors a bit to compensate for an inflexible seller.

See, easy peasy… ok maybe not, if you want help pricing your Tampa Bay home, give us a call today! 727-410-0336

Sand Key Condos | Pinellas County Florida Real Estate

October 27, 2021 By Deborah Ward

Sand Key in Pinellas County Florida has a number of condo communities. The Sand Key community has plenty of single family homes, but for those looking to live in a more maintenance free lifestyle, condos may be for you. Here is information on several of them.

Beach Front and Intracoastal Waterway

The Meridian is a beachfront condo community found on the Gulf of Mexico. Views of the white sands and gorgeous sunsets await you if you live there. The Moorings on Sand Key is found on the intracoastal waterway and are luxury condos in a gated community. Sand Key Club is a beachfront condo community. It has 104 condominiums on 13 floors and is within walking distance of the Shoppes of Sand Key.

Luxury and Views

South Bay is located on the intracoastal but has beachfront views as well. South Beach is in an exclusive neighborhood with amazing views. The Grande is also beachfront. It is comprised of two identical buildings, the Somerset to the south with 117 units and the Watermark to the north with 116 units. Together both buildings have 4 penthouses. Luxury and amazing views. The Ultimar is a beachfront community that lives up to its name. Ultimate luxury in three towers, amazing extras like technology, hardwood floors, gourmet kitchens and amazing views. The Utopia is also beachfront and has a timeless “utopian” beauty. Amazing Gulf views and the perfect place to live. The Harbour Condo is on the intracoastal waterway. Another great condo community to find your perfect place to live on Sand Key.

Price Range

These are just a few, and as with other communities, some are more affordable, others have prices that live up to their “luxury” descriptions. Most start in the $300,000 range and prices for others can soar to over $1 million dollars. You know your budget and what you want in size and amenities. Your best bet? Call a Realtor who can help you find the best fit for your lifestyle and budget.

Want to find out more about the Sand Key Condos? Give us a call today! 727-410-0336

A Few Tricks to Make Sure Your Offer Gets Accepted

October 27, 2021 By Deborah Ward

You found it. The perfect house. Now the battle to get it begins. Whether you are the only person who is putting in an offer or one of a few or many, there are a few tricks that can help make sure you get your new home.

First, your best bet is to offer just over asking price

Assuming that your Realtor isn’t showing you fixer uppers, offering just over asking price is the perfect way to show that you are serious. Even just $100 can make all the difference. If you combine that with being in great financial shape and being pre-approved for your mortgage, your offer will shine.

Write to the seller

Think about sending the seller a letter explaining why you want and need their home. Talk about what you love about it. Talk about how it will enhance your life and the lives of your spouse/children, etc. Whatever your situation may be, telling the seller that you love their home and want to make it yours can sway them to your offer. Now be aware that not every agent will give the seller the letter, but if they do it can make a huge difference.

Keep in mind that sellers usually plan on taking their items with them

Unless it’s a fixture, basically something attached to the house that isn’t easily removed, or something that is usual that is left in the home, such as a washer or dryer, don’t weird out the seller and ask for their personal items.

Be flexible

Lastly, be as flexible as you can be with settlement and move in. If you can close quickly, do it. If the seller needs more time, do it. If you need to rent back to them, do it. Add an escalation clause to your offer. An escalation clause in a real estate contract allows you, the buyer, to tell the seller “I will pay x price for this home, but if the seller receives another offer that’s higher than mine, I’m willing to increase my offer to y price.” Of course, only do an escalation clause if you can afford the price to increase!

Why You Shouldn’t Price Your Home Using A Zillow Zestimate

October 27, 2021 By Deborah Ward

You know that you want to sell your home. You also know that getting your listing out wherever people can see it can help you sell for the best price, right? Wrong!

Many sites are way off and one, Zillow.com, has a tool called a “Zestimate” which is supposed to give you an estimate of your home’s value. Problem is, it is very inaccurate, and it will make your home look overpriced.

“Advanced algorithm”?

Yes, the fact is that in most of these cases, the Zestimate appears to be considerably lower than the asking price. Zillow claims that when they come up with their Zestimate, they use specific types of information and an “advanced algorithm” to come up with a figure.

From their FAQ’s:

“We use proprietary automated valuation models that apply advanced algorithms to analyze our data to identify relationships within a specific geographic area, between this home-related data and actual sales prices. Home characteristics, such as square footage, location or the number of bathrooms, are given different weights according to their influence on home sale prices in each specific geography over a specific period of time, resulting in a set of valuation rules, or models that are applied to generate each home’s Zestimate. Specifically, some of the data we use in this algorithm include: Physical attributes: Location, lot size, square footage, number of bedrooms and bathrooms and many other details. Tax assessments: Property tax information, actual property taxes paid, exceptions to tax assessments and other information provided in the tax assessors’ records. Prior and current transactions: Actual sale prices over time of the home itself and comparable recent sales of nearby homes.”

Imperfect information

The problem comes in with where they actually get the information. For instance, some states don’t publish any information about real estate transfers, including sales price.

The physical attributes are put in by the seller, not a real estate professional. When buyers see that inaccurate Zestimate, they think that it’s the actual value and that you are overpricing your home. It makes for bad negotiating.

Trust your Realtor

Your best bet is to trust your Realtor to truthfully and expertly evaluate and value your home. Then let your Realtor choose the sites that have your listing.

10 Ways You Are Sabotaging Your Own Home Sale!

October 27, 2021 By Deborah Ward

You want to sell your home, right? Really? Because your behavior says otherwise. Your actions are sabotaging your own home sale. If you’re wondering why your home isn’t selling, read on and see if you fall into one or more of these examples… then STOP IT!

Issues of availability:

It makes sense that the more people that see your home, the more likely one will buy it. So why in the name of all that’s holy are you being so restrictive in your showing hours?

1. If you aren’t making the home available at times when normal people are looking, then it won’t be seen.

2. And for goodness sake, use a lockbox for a house key so other Realtors besides your listing agent can show the home!

3. If you don’t want it to be obvious for security reasons, put it on a door that is out of sight, but use one!

Pets and pet smells:

4. That “adorable” yet huge dog of yours, you know, the one that you swear “doesn’t bite” and is a huge sweetheart? Yeah, even the nicest dog can be territorial about strangers in their home. When you leave for the showing, take Fido with you.

5. And that cat smell? Total turn off. Find a place for Fluffy to stay while the house is for sale so you can dispense with the litter box.

6. Same goes for snakes, lizards, rodents and other small pets. Even if they don’t smell, they can scare or turn off buyers. That person who fell in love with the rest of your home but is terrified of snakes will NOT buy because you have one, trust me.

House condition:

7. We get it, you have to live in your home while you try to sell it, but when it’s going to be shown you need to CLEAN IT! That means pick up toys and clutter, clean bathrooms and kitchen counters, leave on some lights (as discussed with you when the home was staged) and…

8. DON’T SMOKE ANYWHERE! Yes, that means even no smoking in the garage since it‘s attached to the house.

Sabotaging interested buyers:

9. You have offers! You refuse to negotiate them. Not cool.

10. Oh, and those major home problems you know about? You are required to disclose them to buyers. And yes, a sinkhole qualifies.

Is A Condo The Right Choice For Me?

October 27, 2021 By Deborah Ward

You’ve decided to buy your own home. Your Realtor has asked you if you’d be interested in looking at condos. So, is a condo the right choice for you?

Can be a great choice

A condominium, or condo for short, can be a great choice for certain people. If you are single, newly married, or retired, a condo may be a good choice. The reasons are many. A condo is a form of home ownership in which the individual owns their unit, everything from the four walls and in, but not the outside parts or the ground the unit sits on. Those areas, known as common areas, are owned by all of the individual unit owners collectively. These are things like hallways, walkways, pools, and so on.

Association of owners

The maintenance of these areas is the responsibility of an association which includes every unit owner. That membership includes an obligation to pay monthly dues and any special assessment fees for larger maintenance issues, like a new roof or painting all the buildings. Typically, the association hires contractors to do the actual maintenance, so individual owners don’t have to do the grass cutting, pool cleaning and so on.

So, is it for you?

Maybe so. Condos can be more cost effective for people buying their first home or for people who are retiring and downsizing. Condos tend to cost less to purchase, so a mortgage payment is lower. You aren’t paying for what it costs to have a pool. You aren’t paying extra for a gym membership. With fewer maintenance requirements, that helps costs as well. There is no need to buy lawn equipment, no need for pool supplies, no need for whatever things usually purchased by homeowners to care for their homes. There is also the time savings. No lawns to mow, no gardens to weed, no pools to vacuum.