What is the right price?
Dear Buyer,
the seller is asking a certain amount of money for a piece of property. You would like to purchase it but you feel that the price is too high, and it is time to feel out the seller’s motivation. Instead of offering the $379.000 the seller is asking for you offer $249.000. After all the market is tough. We see situations like this often. The result commonly is that the seller is now insulted and the buyer is either losing out on the property or will have to significantly step up his offer.
These offers are called low ball offers, and are every Realtor’s worst nightmare. They usually cause tension and upset customers on both sides. Our market here along the Florida central west coast has changed enough towards the positive that we see multiple offers on properties again, buyers out bidding each other and properties selling from 92% of asking price to full price contracts.
If you are serious about a property you need to be prepared to pay market value again. We are starting to balance out and supply is coming closer to demand again.
I will be happy to conduct a thorough market analysis on a property of your choice to help you make a reasonable offer that actually will result in the successful purchase of said property.
Sincerely,
Manuela
How to buy a foreclosure
Expect substantial repairs with any foreclosure purchase.
If you’ve decided that foreclosures are right for you, here are some simple tips to ensure that you get the right deal and don’t risk over-leveraging yourself.
Work out a budget
Map out your current financial assets and liabilities. Factor in recreation, savings, and other planned expenses, plus enough of a cushion to give you some security. The remainder is your available budget. Remember that even after the sale, a foreclosure will cost money before making it. You should expect repairs before the home is livable, followed by a period of vacancy while you shop the home to buyers or renters.
Line up financing
Foreclosures move fast–very fast. In some cases, a few minutes can make the difference between buying the house of your dreams. Now that you know what you can spend, you need to have a bank’s permission to spend it. Cash is king, but pre-approved financing is pretty close, and just the process of applying for financing will provide a good gut check of your budget estimates from step 1.
Bring an expert
The buying process for many foreclosed homes–particularly those being auctioned–leaves little time for individual inspection. Bring a licensed inspector with foreclosure experience. There’s no replacement for a roper inspection, but expert eyes can spot the biggest, most expensive issues up front and help you incorporate that feedback into your bid. Be sure to keep a running tally of repair costs and deduct that amount from your budget. You don’t want to bite off too much.
Stay focused
Once bidding begins, it’s easy to lose your head. The market is full of foreclosures. If you miss this one, you’ll get the next. Or one of the dozens after that. Stick to a sane bid in a range you can afford and eventually, you’ll find the right house at the right price.
Sincerely,
Manuela
International Buyers
Dear Buyer,
last year $82 Billion Dollars worth of Real Estate in the US has been sold to international buyers. The median home price for international customers is $315,000, which is about $100,000 higher than the median sales price over all. Real Estate in Florida has a real draw for a lot of people from other places. Besides the fact that we have beautiful weather year round, prices have always been more affordable than some other places.
During the course of the last few years, home values have seen a significant drop. The average price reduction in Florida was about 45% from July 2005 to July 2011. This number in itself is huge but if in addition, one figures in the extra savings created by the difference in exchange rate, the “discount” on Florida properties reaches as much as 60% if you are living in Brazil or up to 56% if you live in the Euro zone.
We have great properties for sale, we see a definite up-tick in activity and prices are inching their way up slowly but steadily. Don’t wait too long to buy your piece of sunshine.
Sincerely,
Manuela
Your international connection
Is it Time to Stop Waiting?
Dear Buyer,
If you’ve been waiting to buy, 2012 might be your time.
Home values took a universal dive in 2008, but for most markets, it looks like the worst is behind us. While certain metropolitan areas continued to bleed in 2011 (some cities in Southern California saw a dip of more than 20 percent from 2010), others stabilized, and quite a few saw modest improvements. The national unemployment rate fell to 8.3 percent in January, interest rates remain low, market fluctuations have smoothed, and we may be turning a corner toward a slow-but-persistent recovery.
Still, even those declining unemployment numbers are near historical highs, and the financial crisis in Europe continues to loom, and no one can ever call the market bottom with complete accuracy. So if you’ve been on the fence, will 2012 be your year to buy?
If you’re a first-time homebuyer with money in the bank for a down payment, you may never see a market like this again. Home prices are low. Yes, they might go lower in the short term, but with prices starting an apparent upswing in many markets, it’s a risk many buyers are willing to take. If you’re looking for a quick flip, you might want to look in a different industry. The days of rapid profits in real estate are largely behind us. But if you plan to stay in a primary residence for many years, conditions look rosy. In addition to low interest rates, today’s market offers unparalleled choice, from unoccupied new construction to foreclosures or existing homes. An inventory glut is weighing down prices, so if you don’t have to sell a house to buy one, this could be your time. Talk with a knowledgable REALTOR© to get more information on your specific market.
If you’re looking to move from your current home, the question is a bit more complicated. The house you want is inexpensive, but so is the house you’re looking to sell. If your home category has retained its value better than they type of home you’re considering buying, you might be in a good position to make a move. Likewise, if all else is equal, you can save money by buying when all prices are lowered.
If nether of these apply, and you have some savings on hand, consider renting out your current home while you buy a new one. If you can cover most of your mortgage and manage to pay for your new home, you can build equity in two properties while waiting for the market to bring you a payday.
Sincerely,
Manuela
Posted by Realty Executives, February 2012
Welcome to my website.
Please, feel free to browse our company’s listings, get tips on buying and/or selling, or getting an update on local statistics in the real estate market.
I also want to invite you to a complimentary Listingbook membership. By opening an account with this wonderfully interactive property service you may customize your search for homes.
I would be honored to become your Realtor of choice.
Manuela Hendrickson
Recent Comments