Buyer’s Agents have tools to establish Fair Market Value.
I was working with a family earlier this year to find a waterfront home with easy ocean access that could accommodate 3 boats between 30-60 feet. After exploring waterfront homes in three counties together, they found a home while driving around on their own. They contacted the listing agent directly on a direct Intracoastal waterfront home listed for $2.49 Million and negotiated to purchase it for $2.4 Million.
Commissions are paid by the seller and negotiated at time of listing not at time of sales contract.
Some buyers believe they can renegotiate the listing commission during the sales negotiation process. The Listing Agreement is a legal contract between listing agent and seller – BEFORE marketing the home.
Misconception of Saving Money.
The buyers throught they had saved $70,000 by going directly to the listing agent. Out of curiosity, I did a comparable market analysis (CMA). My CMA showed the fair property value was $2,150,000 unfurnished. Without an experienced Buyer’s Agent with tools and experience to research fair market value – the buyers overpaid $250,000 (less value of furniture).
Seek expert advice from a Buyer’s Agent so YOU don’t overpay!
CALL (561)827-2952 for assistance to BUY or SELL Florida real estate.
Zillow is a popular tool for buyers and sellers searching online to find the value of a particular property. If all homes were built by the same builder and of the same quality that may be the perfect tool. As with any electronic or general comparison tool that is not done ‘by-hand’ I have found that it has issues and shortcomings (but then people do too)…..
What do I mean with that? As a licensed Jupiter Florida real estate agent, I was creating a comparable market analysis (CMA) for a buyer of a single family home in Tequesta, Florida. There were several recent comps in the multiple listing service (MLS). I looked further into the tax records and saw that another property had sold privately. The home that had sold privately appeared to be owned by two individuals who were probably related. Each owner already owned half the home so when one of them bought the other one out the price was recorded as 50% of the home value. That home was then a comparison for future sales on Zillow, via the tax records and other automated systems. I am not for or against Zillow or similar companies in any way. This is simply an observation of what can happen when relying on automated tools and not real people.
Mirasol Country Club – Newer luxury resort style golf and tennis country club community just off PGA Boulevard with 1,170 Mediterranean style homes and estates. Country Club at Mirasol Palm Beach Gardens FL offers homes for sale and for rent.
Mirasol Florida Golf Club – Offers 36 championship holes.
The Sunset Course – Designed by Arthur Hills and Tom Fazio.
Par 72. Slope 144. Rating 75.2. Length 7,192 yards.
The Sunrise Course – Designed by Arthur Hills and Tom Fazio.
Par 72. Slope 142. Rating 76. Length 7,332 yards.
Country Club at Mirasol – The aerial image shows The Grand Clubhouse, with golf pro shop, card rooms, lounges & indoor and outdoor dining rooms, overlooking the magnificent resort style pool, groomed meandering fairways and 15 har tru clay tennis courts. Next door is the Esplanade Sports & Fitness Center with fitness center, steam rooms and outdoor swimming pool.
Custom Luxury Home Builders – There are 1,170 Mediterranean estate homes designed by luxury developer Taylor Woodrow in this ‘Golfer’s Mecca’ – Palm Beach Gardens – home of the PGA. Builders include Casto Homes, Courchene Development, Frankel Custom Estates, Mustapick, Pinetree Homes and Taylor Morrison.
Subdivisions – Andalusia, Capri, Capri, Esperanza, Esperanza, Magdalena, Olivera, Palacio, Paradisio, Playa Rienta, Porto Vecchio, Quantera, Riviera, San Remo, Siesta, Tranquilla, Tranquilla, Via Verde, Villa Vasari, Villa Vizcaya & Vizcaya
Mirabella at Mirasol – Homes for sale $350,000’s – $650,000’s.
Neighboring gated community with superb clubhouse without mandatory club membership of the country club.
Mirasol HOA – Official Website HOA Fees – Mandatory $1,400 – $2,300 / quarter
HOA Fee includes – Common area maintenance, basic cable & man-gated security
Subdivision– Golf course, driving range, tennis, club house, resort, pool, spa, exercise room & sidewalks
Mirasol Golf Club Membership -Mandatory. Inquire directly for current rates.
Golf Membership – $130,000 (80% equity) + $15,600 annual dues
Sports Membership – $90,000 (80% equity) + $9,360 annual dues
Social Membership – $60,000 (80% equity) + $3,895 annual dues
Public Schools – Marsh Pointe Elementary, Watson Duncan Middle & William Dwyer High School
Location – Mirasol Florida – 10 min west of PGA Blvd I-95 Exit #79.
10 min – Shopping – Downtown at The Gardens, The Gardens Mall, Midtown & Legacy Place.
15 min – Jupiter, Singer Island & Juno Beach dining, parks & beaches.
15 min – Palm Beach International Raceway & Moroso Motorsports Park.
20 min – City Place, Kravis Center & Palm Beach International Airport (PBI).
1 hr – Ft Lauderdale – Hollywood International Airport (FLL)
90 min – Miami International Airport (MIA)
The 2012 Palm Beach Florida Residential Real Estate Housing Market Report showed that sellers sold their homes selling price was averaged 90% of the asking price or listing price. In 2012, most foreclosures had multiple offers and sold above asking price.
JUPITER FLORIDA REAL ESTATE MARKET 2012
New homes listed: Increased 28.7%. Closed sales: Increased 42.7%. Median sales price: Increased 26.8%.
Days on the market: Reduced 21.8%. Inventory: Reduced 36.5%.
Request the fair market value for your home.
Contact me for a consultation & analysis of your home’s fair market value and CMA.
Call (561) 827-2952
Real Estate Market News Release is Very Optimistic!
PALM BEACH REAL ESTATE MARKET
New homes listed: Increased 7.3%. Closed sales: Increased 6.6%. Median sales price: Increased 24%.
Days on the market: Reduced 14.6% Inventory: Reduced 42%
Request the fair market value of your home.
Contact me for a consultation & analysis of your home’s fair market value.
Call (561) 827-2952
HOBE SOUND REAL ESTATE MARKET
New homes listed: Increased 60.9%. Closed sales: Increased 33.3%. Median sales price: Decreased 27.8%
Days on the market: Reduced 16.4%. Inventory: Reduced 19.4%
Make sure you know your home’s fair market value!!
Call (561) 827-2952 for a free consultation.
Contact me for FREE CMA – an analysis of your home’s fair market value.
Ask for discount commission when listing your home for sale.