CALL or TEXT (561)827-2952

Menu

Posts Tagged ‘fair market value’

Why Use Buyer’s Agent? $200,000 Question?

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.Property Search

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.

My Issue with Zillow

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 short-comings (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. 

2012 Jupiter Florida Real Estate Market

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 UPDATES
Hobe Sound / Juno Beach / Jupiter / Palm Beach Gardens /  Palm Beach County / Tequesta

2012 Palm Beach Real Estate

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

REAL ESTATE MARKET UPDATES –
Hobe Sound / Juno Beach / Jupiter / Palm Beach Gardens /  Palm Beach County / Tequesta

2012 Palm Beach Gardens Real Estate

PALM BEACH GARDENS REAL ESTATE

New homes listed: Increased 24.9%. Closed sales: Increased 37.1%. Median sales price: Increased 7.7%.
Days on the market: Reduced 25.4%. Inventory: Reduced 40.8%.

Contact me for a consultation & analysis of your home’s fair market value.
Call (561) 827-2952

REAL ESTATE MARKET UPDATES –
Hobe Sound / Juno Beach / Jupiter / Palm Beach Gardens /  Palm Beach County / Tequesta

2012 Hobe Sound Real Estate Market

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.
(561) 827-2952

REAL ESTATE MARKET UPDATES –
Hobe Sound / Juno Beach / Jupiter / Palm Beach Gardens /  Palm Beach County / Tequesta