Friday, May 10, 2019 / by Andy Mandel
Selling a home can be a complicated task unto itself, but it only becomes more difficult when you attempt to do it without a real estate professional’s assistance. Here are the five biggest mistakes that “For Sale By Owner” sellers (FSBOs) make when they list their homes:
1. They set the price too high. Many think that by setting the price high, they’re giving themselves room for negotiation. The most exposure your home will receive on the market will come in the first two weeks after listing it. That’s when buyers are the most interested. If your home is overpriced, buyers will move onto another listing, possibly forgetting about it altogether. That’s why it’s extremely important to price the home correctly from the very beginning.
2. FSBO sellers lack exposure. It’s critical to have your home listed on the Multiple Listing Service with a Realtor because that’s where Realtors advertise your property to o ...
Thursday, April 18, 2019 / by Andy Mandel
2019 has brought with it a shifting market. We’re seeing sales decline and inventory increase, so pricing your home effectively is more important than ever. To help you sell your home quickly and for top dollar, today we’ll be detailing the three pricing strategies you can use in your sale:
1. Price above the competition. If buyers come to take a look, even if they like your home, they’ll likely search for something that’s a better value before making an offer on yours. We don’t recommend this option.
2. Price at market value. You can look at comparable homes and price yours to match similar ones. You’ll see a lot more buyers who are interested, and you’ll most likely get one or two offers on your home.
3. Price slightly below market value. This creates a bidding war and a buyer frenzy. When buyers see a home that’s priced well, they’ll want to get in and make an offer. By creating this demand for your property, you ...
Tuesday, April 9, 2019 / by Andy Mandel
What’s really going on in the market? It’s not a crash, but there’s definitely a shift occurring.
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Though you may be hearing from various news outlets and other sources that the market is crashing, it’s simply not true. Negative headlines attract more attention than positive ones, so it’s easy for the media to skew the truth.
However, it’s true that there are some changes occurring in our Coral Springs market.
For single-family homes, we saw 8% more listings in 2018 compared to 2017. This is the first increase we’ve seen in the last five years. At the same time, we had 3% fewer sales. If you look at supply and demand, the combination of more homes on the market and fewer home sales creates downward pressure on the market.
At the beginning of 2018, people were fearing a market crash due to unsustainable grow ...
Thursday, March 28, 2019 / by Andy Mandel
The market is shifting as we enter the spring of 2019, but it’s still an excellent time for you to buy a home, and there are four reasons why:
1. There’s more inventory on the market. If you’ve been previously dissuaded from buying due to so few homes being available, right now you have many more to choose from.
2. Interest rates have dipped. In fact, they’ve dropped roughly 0.5% since their October/November 2018 peak. Not only is it cheaper to buy, but you can also get a little more bang for your buck.
3. We’re closer to a buyer’s market now than we’ve been in the last eight or nine years. Although we’re still technically in a seller’s market, you can negotiate a better deal on any home you choose to purchase.
4. You’re paying a mortgage either way. Whether you rent or buy, you’re paying someone’s mortgage, so why not pay your own? When you buy a home, you start building equity and increasi ...
Monday, March 18, 2019 / by Andy Mandel
Now that we’re almost finished with the first quarter of 2019, what do the numbers say about our Coral Springs market? Here is an analysis of how the latest single-family home stats from the first two months of the year compared to 2018’s numbers:
The number of new homes coming on the market increased by 1%
The number of closed sales, meanwhile, stayed relatively flat
The median sales price only increased by 3.77%, which is a considerable drop from the double-digit increases we saw last year and the years prior
The average days on market increased from 32 days to 42 days
Because the number of new listings rose and the number of closed sales stayed the same, there is currently more inventory for buyers to choose from, which should put downward pressure on pricing moving forward. Homes are also taking longer to sell, which means the market is moving slower in general.
The good news is this isn’t anything to be concerned about. All this means is ...