Search Results for: market report

Florida Single Family Home Sales 2016 Yearly Review

03.05.17 by

Florida Single Family Home Sales 2016 Yearly Review

The Florida Single Family Home Sales 2016 Yearly Review as reported by Florida Realtors shows that the last year continued the positive momentum for the real estate market although at a reduced rate.   Year to year closed sales were up by 0.9% (was up by 12.4% in 2015) and new sales under contract (new pending sales) decreased by 4.1% (was down by 2.1% in 2015).

Florida Single Family Yealry Review

Both median and average sales prices were up (2015 to 2016) by 12.2% and 6.2% respectively.   Showing strong gains in value.  These numbers were 10.1% and 5.4% respectively in 2015.

The inventory of available homes for sale decreased by 6.5% from 2015.  While the months supply of homes decreased to 4.3 months.  Indicating a seller’s market.

Click here to view or download the full report:
Florida Single Family Home Sales 2016 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Single Family Home Sales 2016 Yearly Review

Social Media Sells Houses

02.28.17 by

Social Media Sells Houses

Real Estate online

Have you checked your Facebook status today? Perhaps sent a Tweet? Or posted a selfie to your Instagram account? Well if you’re like 74 percent of Americans, your answer to at least one of these questions is probably yes.

Social media has become a vital facet and component of our everyday lives. Thanks to the World Wide Web, we now have the power to stay connected to friends and family members that are miles away, as well as to locate long lost friends and classmates with whom we’ve lost touch over the years. We can show off our new babies, our new pets, and our new cars via widely transmitted photos and videos. We can report good news about our work and family lives, and—in tougher times—can ask for advice, help and resources if needed.

That’s all way cool and all, as the kids today would say; but the most important question in our minds, of course, is, “Can one sell a home through social media?”

Well today the answer comes in the form of a loud, resounding yes. People do indeed advertise houses for sale across social media, just as they tout and advertise the cars, books, services, music, products, or anything else that people want to sell to customers and clients throughout the country.

In the good (but technologically underdeveloped) old days, a homeowner or real estate agent trying to sell a home had a limited number of options available. They could advertise their house in the real estate or classified ad section of the local newspaper, list it in a MLS (Multiple Listing Service) book, and post for sale signs outside the home itself. And, of course, they could host open houses that would give prospective buyers the opportunity to tour the residence.

Of course, home sellers do still have the option of marketing their house through these innovative and wonderful means. Yet today, they also have the option of Facebooking and Tweeting out their listing, posting a photo of your home on Instagram, and filming a video tour of the house that can be shown on YouTube, Vimeo, etc.

By using social media to market your home, you can reach millions of people across the country; some of whom may be looking to move to your area from a faraway place, and are in search of a place to live once they get there. You also can reach people already in your community, who can contact you to arrange an immediate showing—and, or so we hope, a sale!

Basically, the information superhighway has transformed our nation into one big neighborhood; a place where we can show—and sell—our houses to the very best effect.

If you want your home sold with the help of social media, give me a call at (772) 323-6996.

Martin County Real Estate Update October 2015

12.01.15 by

Martin County Real Estate Update October 2015

Martin County Real Estate Update October 2015

“Florida Realtors® report that Martin County single family home sales showed double-digit appreciation in both median and average sale prices for the month of October. The average sale price of $434,249 is up 12.3% compared to October 2014, while the median is up 15.6%, reaching $314,500. Closed sales outpaced last year, too, and our inventory diminished to 1,162 homes, a 7.3% decrease from last year. For the sixth consecutive month, Martin County’s supply of inventory remained below 5 months and is down 18.4% compared to last year. All these figures are the hallmark of a seller’s market, so buyer beware and seek out the assistance of your local REALTOR® to help you navigate the unique challenges of this current real estate market,”

Martin County Real Estate Update October 2015

Housing News that Jensen Beach Homeowners Have Been Waiting For

08.09.15 by

Housing News that Jensen Beach Homeowners Have Been Waiting For jensen beach fl real estate

For Jensen Beach homeowners, the news was a long time coming. The bounce back from last decade’s dizzying plummet in the nation’s residential housing values has been underway for quite a while now—but those values hadn’t quite returned to their former heights.

Until last month!

The Wall Street Journal was early to break the long-awaited headline, “Existing-Home Prices Hit Record: $236,400.” Using just-released June sales numbers, the Journal reported that the nation’s average housing prices now topped the previous high water mark set in 2006. It meant that a lot of paper losses have been obliterated—and the return of full nights’ sleep for many U.S. homeowners who have long been underwater.

Another aspect of June’s housing report card could also ease nerves on a wider scale. USA Today led with it: “Existing homes were sold at the fastest pace in eight years…” It quoted the NAR’s Lawrence Yun as pronouncing this year’s spring buying season “the strongest since the economic turndown.”

That’s where the current housing market profile seems to differ in kind from the previous peak of $230,400, registered in July 2006. That mark was reached after sales volume had started to fall. Prices then followed, starting with a slow decline that continued until the spring of 2008, when the slump became a nosedive—unleashing the subprime mortgage crisis. The “bubble” of unsupported high prices had burst.

There was more glad tidings in last week’s news, as well. U.S. home builder confidence levels hit its highest mark in “nearly a decade” (WSJ). A rise in demand for apartment housing caused a jump of 9.8% in housing starts.

But the biggest news was the existing-home price rise, reported as having “rocketed” 35% since 2011, “benefiting current homeowners by giving them an opportunity to trade up to better homes or sell and cash out.” That’s the kind of spur that can stimulate the entire housing market.

With one economist (Andrew Hunter of Capital Economics) quoted as saying “the housing recovery has shifted into a higher gear,” it wasn’t surprising that other analysts were in agreement. “Don’t Laugh” read one headline from international observer Quartz.com; “the U.S. housing market is the best story in the global economy right now.” Reuters agreed about the implications. Their headline: “Strong U.S. housing data boosts dollar.”

Jensen Beach residents don’t have to be global investors to take advantage of this summer’s values. A simple call to my office is all it takes to get things started!

Housing News that Jensen Beach Homeowners Have Been Waiting For

Martin County Renters Contemplate National Trend to Rising Rates

07.07.15 by

Martin County Renters Contemplate National Trend to Rising Rates

 Martin County rentals

“WHY YOUR RENT CHECK JUST KEEPS GOING UP” was the headline in CNN Money’s real estate special report last month, which could have explained to Martin County renters why it is that U.S. rents keep rising faster than home values. After all, that doesn’t seem to make sense!

The list of reasons was long, and taken all together, fairly convincing:

  • Millennials are renting longer
  • Housing inventory is tight and getting tighter
  • The housing crash scared those who would otherwise have become homeowners
  • Baby Boomers are downsizing
  • Rental construction slowed when confidence sank after the housing crisis

It all comes down to demand and supply—less of the latter, more of the former. Although the author may have exaggerated a detail or two (“…there just aren’t enough ‘For Rent’ signs to keep up with the demand”), more than one Stuart renter will probably agree with the gist of the piece: rents have been on the rise long enough that it makes you want to think about the alternative: buying.

Some of the more extreme cases are urban: in San Francisco and Denver, for instance, renters have seen yearly increases of 15% and 11.6%, respectively, according to Zillow. Martin County renters can find themselves in something of a bind, though—since those higher rent bills make saving for a down payment more difficult. It’s just one reason. Per CNN, “There are a bunch of things keeping renters on the sidelines, meaning “the folks that would be normally making the switch to become homeowners are still taking up the rental units.”

The result: more units remain occupied, vacancies go down; rentable units remain scarce…so prices renters pay continue to go up.

Will this Catch-22 situation persist forever? Most likely not: the broad economic news is that this year’s steady job growth coupled with the pronounced turnaround in builder confidence is likely to loosen the supply stranglehold. Last Tuesday, there was also the kind of news that can prompt builders to really get going: government data showed purchases of new U.S. homes surged (particularly in the Northeast and West), with sales of new homes soaring 24% so far in 2015. That’s the best showing since 2007.

Of course, before supply outstrips demand, the situation puts landlords in an advantageous position. Martin County investors who bought rentable properties during the downturn can now enjoy steady returns from their properties, or decide to sell in a robust market. If you are leaning in that direction, it’s the perfect time to give me a call!

Martin County Renters Contemplate National Trend to Rising Rates

 

 

Putting Stuart Real Estate Prices in Perspective

05.30.15 by

Putting Stuart Real Estate Prices in Perspective

 Prices?

Whenever you are getting ready to buy or sell a residence, taking the temperature of the local housing market is part of how you prepare to engage. When Stuart real estate prices are on the rise, bargain hunters know they’ll have to scramble. When Stuart real estate prices are flat or on the downturn, spotting good value in the local listings is easier. A slow market means that those sellers who are impatient to move on will be willing to reduce their asking price. They will tend to “find the market” more quickly, rather than waiting it out.

Our Martin County real estate prices are seldom in exact lockstep with the national market—but when it moves, the impact is felt sooner or later. Of all the national barometers that are out there, the pre-eminent one is the research done by under the Case-Shiller banner.

At the end of last month, the latest S&P/Case-Shiller Home Price Index again confirmed the uptrend we’ve been seeing for nearly 3 years now. No surprise there: nationally, residential real estate prices continued to rise at the moderate clip that we’ve grown accustomed to. The only standouts were in the 20-City Composite (the single month rise of .5% was the largest increase since July) and in Denver and Dallas—both of which have now actually surpassed the peaks registered at the height of the real estate price bubble (which might have Coloradans and Texans wondering if it was a bubble at all)…

But what was unusually interesting were some observations published at the end of the Case-Shiller report, in the Analysis section. It noted that the data marked the 34th consecutive month of year-over-year price gains, and that home real estate prices “continue to rise and outpace both inflation and wage gains.” It pointed out that, nationally, average residential real estate prices are within 10% of the “housing boom peak.” And then it came up with an insight that puts things in perspective in a way that hasn’t appeared elsewhere. This by S&P Dow Jones Index Chairman David Bitzer:

“A better sense of where home prices are can be seen by starting in January 2000, before the housing boom accelerated…”

Looking at inflation-adjusted numbers, the latest U.S. real estate prices as registered in the Index rose just a touch under 30% from January 2000 to February 2015. In other words, when you remove the whole statistical bulge—the “bubble” phenomenon—out of the picture, residential real estate prices have risen at an annual 1.7% rate. That’s real appreciation, adjusted for inflation. Slow—but “steady as she goes!”…and for the past three years or so, it’s more than doubled that long-term gain.

Stuart homeowners whose stress levels went up and down with the extreme price rise and fall would have been a lot more comfortable had they just snoozed through the whole affair, confident that the long-term history of real estate demonstrates, as the name implies, just about the most ‘real’ investment you can make.

When you get ready to take a look at the residential market, I hope you will want to give me the first call. I’ll share the latest up-to-the-minute info on Stuart real estate prices and activity that will put everything into meaningful perspective!

 Putting Stuart Real Estate Prices in Perspective

Martin County Real Estate News Can’t Compete with this China Item

05.20.15 by

Martin County Real Estate News Can’t Compete with this China Item

 3D_Printer

Martin County real estate news is fairly predictable—at least compared with some of the stories that filter in from the rest of the world. Here in Stuart, for instance, wherever a new home is being built, you’re likely to see familiar evidence like stacks of lumber and drywall, cartons of nail gun ammo, sacks of cement, and workmen hustling around as they put everything together.

Nary a printer in sight.

Not so in China. According to The Washington Post, the real estate news includes an item about an innovation from Asia. “Innovation” is perhaps a bit of an understatement, because the gist of the story was that in April a year ago, a Chinese concern built 10 houses in one day using a 3-D printer.

Despite what you may be thinking, this item did not have an April 1 dateline.

The 3-D printers we’ve been reading about over the past few years are the ones that take pellets or powders made of plastic, wax, ceramic, or even metal, and print three-dimensional objects, layer by layer, as directed by a computer.

Only a few years back, for most of us, stories about 3-D printers seemed more like science fiction than reality. But apparently the things actually work! As evidence, there have been lots of stories about the legal and other ramifications that accompany the printing of firearms. A few months ago, astronauts printed up a 3D wrench aboard the International Space Station: they’ll just print up spare parts when things break down. And there was that car (the “Strati”) that a company printed in Chicago: it took 44 hours to print, with a top speed of 40 MPH…

Doesn’t this all sound a little bit nuts?

But back to the real estate news from China. It seems that the outfit that printed the 10 houses last year, built a really, really big 3D printer, and used it to print a mansion: an 11,840 square-foot villa. Next to it, they printed up a 5-story building (just showing off, you have to think). According to reports, the process is more than just fast: it’s becoming cheaper and more energy-efficient. The Chinese company says that it can save 30%-60% of building materials, 50% of labor costs, etc. They want to print bridges, too…

But don’t think American ingenuity is being left in the polymer dust! USC Engineering Professor B. Khoshnevis is plugging away at the forefront of the technology, except he calls it “contour crafting” instead of “3D printing” (or “Xeroxing”). On his web site, in answer to the FAQ “Can you print an entire house?” the answer is Theoretically, yes. He hopes to see “entry-level construction models on the market within one to two years.”

Soooo, how long before our local Martin County real estate news will be trumpeting our own 3D printed houses for sale? No time soon. It turns out that the villa, 10 small houses, and 5-story apartment building in China “aren’t much to look at.” In fact, some say they are for demonstration only. So when you give me a call to help you find the Stuart home of your dreams, I suspect a printed model won’t be on our tour list. We won’t be making the rounds in a Strati, any time soon, either.

It’s only a two-seater, anyway.

Stuart FL Buyers Taking a Harder Look at Today’s Credit Score Models

04.18.15 by

 Stuart FL Buyers Taking a Harder Look at Today’s Credit Score Models

It may not be the first factor you look at when you begin planning to buy a Stuart FL house, but unless you are in the rare position of being able to make an all-cash purchase, sooner or later your credit score will become a prominent factor. That’s why this month’s get-together in Washington held some information that could ultimately become pretty important for both Martin County home buyers and sellers.

The meeting was held at the National Association of Realtors headquarters, with participants that included HUD Secretary Julian Castro, credit score industry representatives from FICO and Vantage Score, and other experts in research, government, and real estate. This might seem to be the kind of gathering (“Symposium,” in this case) that is usually more productive of eyes glazing over than much else, but for Martin County home buyers and sellers, this one was different.

credit reportThe subject was “Credit Access”—how companies determine the credit scores that guide lenders’ decisions on who will and won’t be offered home loans. The consensus was (and is) that current credit score formulas could stand some improvement. Secretary Castro’s Keynote set the table. He said that there is a recognized need to find new ways to construct credit scores that are more sensitive to “getting at” the bottom line responsibility potential borrowers have shown in their lives; credit scores that will predict how they will pay down their mortgages. “There’s been a disconnect there,” he said.

Given that this is the single reason that credit scores exist at all, that seems like quite a statement to make, particularly with the credit scoring companies right there in the room. No eye-glazing going on, I suspect.

Now it’s true that FICO and Vantage Score have already been fine-tuning some of their credit scoremethods. Local buyers may have already have seen their Stuart FL credit scores improving when non-recurring problems (like tardy medical bill payments) were de-emphasized. But on a wider scale, there was considerable discussion about the need to adapt to lifestyle shifts that are taking place. The way Americans live their lives—particularly the way they use technology—has changed, and will continue changing. Blanket shifts in lifestyles make some behaviors different predictive value than they used to have: for instance, many millennial and minority consumers “don’t use credit in the same way households did in the past.”

A representative from Moody’s Analytics pointed out that most conventional loans are currently made to borrowers with credit scores about 740—which is 20 points higher than was the case during the housing boom. In today’s tougher economy, that makes it likely that some Stuart FL buyer’s credit scores would benefit if HUD is able to follow through on its efforts “to improve credit access to Americans” without adding to lender risk.

It’s in everyone’s interest that credit ratings be accurate predictors of repayment patterns. With interest rates continuing to be at bargain basement levels, it couldn’t be more important, because it also continues to be a fantastic time to be in Martin County’s real estate market—and to give me a call!

 

 

St Lucie County Townhouse and Condo Sales 2013 Yearly Review

03.11.14 by

St Lucie County Townhouse and Condo Sales 2013 Yearly Review

For the St Lucie County Townhouse and Condo Sales 2013 Yearly Review indicated strong activity but at a reduced volume as compared to 2012.  Year to year closed sales were up by 7.5% as compared to 2012 which saw an increase of 24.2% and new sales under contract (new pending sales) increased by 30.9% (2012 saw a n increase of 38.6%).

St Lucie County Townhouse and Condo Sales 2013 Yearly Review

Both median and average sales prices were up (year to year) by 26.2% and 16.1% respectively (2012 numbers were 18.5% and 14.7%).  Very significant gains that may explain why the reduced volume of sales for this year as townhouses and condos become less affordable.

Inventory decreased by 11.1% as compared to 2012’s decrease of 24.4%. While the supply of inventory dropped to 8.8 months as compared to 9.6 months for 2012.  Still in a buyer’s market for Saint Lucie County townhouses and condos.

 To view the full report click on the graphic above or the link below:
St Lucie County Townhouse and Condo Sales 2013 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

St Lucie County Townhouse and Condo Sales 2013 Yearly Review

St Lucie County Single Family Home Sales 2013 Yearly Review

03.10.14 by

St Lucie County Single Family Home Sales 2013 Yearly Review

The St Lucie County Single Family Home Sales 2013 Yearly Review as reported by Florida Realtors indicates that Saint Lucie County had excellent market activity for single family homes throughout the year of 2013.  Unfortunately, not quite as strong as 2012 in terms of volume of sales.  Year to year closed sales were up by 7.5% (was up by 16.% in 2012) and new sales under contract (new pending sales) increased by 30.9% (was up by 44.7% in 2012).

St Lucie County Single Family Home Sales 2013 Yearly Review

Both median and average sales prices were up (2012 to 2013) by 20% and 13.4% respectively.   Showing strong gains in value.  These numbers were 5.3% and 1.8% respectively in 2012.  This large increase in values is why the rate of sales has fallen for 2013 as homes become more expensive and less affordable.

The inventory of available homes for sale increased by 11.9% from 2012 (When there was a 38.1% decrease).  While the months supply of homes increased slightly to 5.2 months from 5 months for 2012.  Still in a strong sellers market for Saint Lucie County.

To view the full report click on the graphic above or the link below:
St Lucie County Single Family Home Sales 2013 Yearly Review

To view the complete set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

St Lucie County Single Family Home Sales 2013 Yearly Review

Martin County Townhouse and Condo Sales 2013 Yearly Review

03.08.14 by

Martin County Townhouse and Condo Sales 2013 Yearly Review

For the Martin County Townhouse and Condo Sales 2013 Yearly Review showed a continued strengthening of this segment of the Martin County real estate market.   Year to year closed sales were up by 14.5% as compared to 2012 which saw an increase of 5.2% and new sales under contract (new pending sales) increased by 29.2% (2012 saw a n increase of 15%).

Martin County Townhouse and Condo Sales 2013 Yearly Review

 

Both median and average sales prices were up (year to year) by 14.9% and 12.3% respectively (2012 numbers were 3.9% and 5.4%).  Very significant gains, especially when compared to recent years.

Inventory decreased by 17.5% as compared to 2012’s decrease of 17%. While the supply of inventory dropped to 6.3 months as compared to 8.7 months for 2012.  A balanced market for Martin County townhouses and condos.  I’m a bit concerned over the continued decrease in available inventory as this will lead to reduced numbers in the future.  Though, as prices continue to gain, I expect inventories to rise as well.

 To view the full report click on the graphic above or the link below:
Martin County Townhouse and Condo Sales 2013 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Martin County Townhouse and Condo Sales 2013 Yearly Review

Martin County Single Family Home Sales 2013 Yearly Review

03.07.14 by

Martin County Single Family Home Sales 2013 Yearly Review

The Martin County Single Family Home Sales 2013 Yearly Review as reported by Florida Realtors indicates just how strong the market performed in 2013 for the Martin County single family housing market.   Year to year closed sales were up by 19.5% (was up by 16.8% in 2012) and new sales under contract (new pending sales) increased by 36.7% (was up by 29% in 2012).

Martin County Single Family Home Sales 2013 Yearly Review

 

Both median and average sales prices were up (2012 to 2013) by 12.6% and 5.5% respectively.   Showing strong gains in value.  These numbers were 3.1% and 1.2% respectively in 2012.

The inventory of available homes for sale increased by only 2.7% from 2012.  While the months supply of homes decreased to 6.5.  Indicating a balanced market, where neither the seller or buyer has an advantage.

To view the full report click on the graphic above or the link below:
Martin County Single Family Home Sales 2013 Yearly Review

To view the complete set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Martin County Single Family Home Sales 2013 Yearly Review

Florida Townhouse and Condo Sales 2013 Yearly Review

03.04.14 by

Florida Townhouse and Condo Sales 2013 Yearly Review

For the Florida Townhouse and Condo Sales 2013 Yearly Review for the state of Florida shows continued growth and strengthening of this segment of the real estate market.   Year to year closed sales were up by 5.1% as compared to 2012 which saw an increase of 2.1% and new sales under contract (new pending sales) increased by 9.7% (2012 saw a n increase of 6.4%).

Florida Townhouses and Condos 2013

 

Both median and average sales prices were up (year to year) by 20.1% and 13.1% respectively (2012 numbers were 18.5% and 14.3%).  Very significant gains.

Inventory increased by 1.6% as compared to 2012’s decrease of 25%. While the supply of inventory dropped to 5.8 months as compared to 6 months for 2012.  Close to a balanced market for Florida townhouses and condos.

 Click here to view or download the full report:  Florida Townhouse and Condo Sales 2013 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Townhouse and Condo Sales 2013 Yearly Review

Florida Single Family Home Sales 2013 Yearly Review

03.03.14 by

Florida Single Family Home Sales 2013 Yearly Review

The Florida Single Family Home Sales 2013 Yearly Review as reported by Florida Realtors shows that 2013 was a year of recovery for the Florida single family housing market.   Year to year closed sales were up by 11.8% (was up by 8.5% in 2012) and new sales under contract (new pending sales) increased by 17.6% (was up by 17.5% in 2012).

Florida Single Family 2013

 

Both median and average sales prices were up (2012 to 2013) by 15.9% and 11.6% respectively.   Showing strong gains in value.  These numbers were 8.6% and 7.3% respectively in 2012.

The inventory of available homes for sale increased by 11.9% from 2012.  While the months supply of homes remained steady at 5.5.  Indicating a seller’s market.

Click here to view or download the full report:
Florida Single Family Home Sales 2013 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Single Family Home Sales 2013 Yearly Review

Mixing the Right Ingredients for a Sale

08.23.10 by

Mixing the Right Ingredients for a Sale

There are three basic ingredients in the recipe for selling your Stuart, Florida home: location, condition, and price.  Sellers can’t control the location and have some control on condition but have the most control over that final ingredient, price.  If a home isn’t selling after a couple of months, that element will likely need some adjustment.

Generally, if your home isn’t selling in the average amount of time that others on the market are, overpricing is the probable culprit.  Deciding how much to adjust your asking price will depend on a reevaluation of your local neighborhood market.

Even if you’re confident that you priced fairly and correctly from the beginning, you may find yourself overpriced if local conditions in your Stuart, Florida neighborhood have declined or not seen any recent improvement.  Now may be the time to consult with your real estate agent and ask for a new CMA, or Comparative Market Analysis.

The CMA will report the current asking prices, current selling prices, and prices for homes whose listings have expired.  Forget about comparing asking prices, because the market has not yet shown if those will sell or not.

Prices at which homes did sell are a good figure to heed, but you’ll also learn a lot from the prices at which homes did not sell, or expired.  After your agent’s explanation of the CMA, make sure your new price reduction is in line with final sales prices and well below the expired listing prices.

Would you like a check on the current value of your Treasure Coast Florida property?  You can request one here.

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Search the MLS for Free

Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you’ll be emailed all homes that meet your search criteria. You’ll get internet access to a website that includes pictures, prices, and addresses to real estate that’s listed in the MLS!

Stuart Florida Real Estate

Call 772-323-6996 for information

Luck Is A Four-Letter Word

07.04.09 by

A “buyers’ market” is just what it implies – a market in which buyers have the advantage and exploit it. It’s not a market that rewards foot-dragging, hesitation or indecision.

Unfortunately, all the factors that created the buyers’ market we have today have been reported so negatively and rampantly by various media outlets that buyers are themselves too spooked to even enter the fray. Strangely, people were buying like crazy during the previous sellers’ market, when the advantage was actually all to the sellers.

That’s when buyers didn’t fear paying too much, and now that prices are so low and inventories so high, suddenly buyers DO fear paying too much! However, it’s impossible to purposefully time the market to buy at the bottom and sell at the top.

Once the market begins to settle and subsequently improve (and it will), the amazing buying opportunities we’ve been seeing will begin to disappear. With decreased buying activity now, pent up demand for homes will explode when the market recovers, and buyers will once again be competing for the best homes.

Don’t rely on luck in the marketplace – rely on planning. Make a careful decision with a predictable outcome. Has the market dropped enough, right now, to make such a purchase? Absolutely! Forget about the top and the bottom and enter your “safe zone” with confidence.

If you’re considering purchasing a home, and want to know what’s really happening in real estate visit our website GabeSanders.com or call us at (772) 888-2885.

A Quick Buyers Guide to Short Sales

05.01.09 by

What is a ‘Short Sale’

A short sale occurs when a seller wishes to sell a property that is now worth less than the mortgage and any other indebtedness that is owed on the property and is asking the lender to forgive all or part of the difference. If the seller is in a position and willing to pay this difference, it is not a short sale.

Who Should Buy a Short Sale:

It can be anyone who finds a property that they feel will suit their needs. It can be an investor, a first-time home buyer, or a second home buyer. The governing factor is that you must have patience and not need to take possession of the home in a short period of time. If you need to close in less than 3 months or possibly even longer, select a different type of sale.

What Should a Buyer Look for in a Short Sale:

Short sales come in different flavors with differing odds of a successful conclusion.
The best odds are with an owner in a pre-foreclosure situation where the current seller no longer has the assets to continue making payments on the home and it will be foreclosed upon in the future. Even better odds if there is no second mortgage on the home. The lender can’t ask for additional money from a seller without assets and they will prefer to take some loss now, rather than go through the expense of foreclosure at a later time. But, keep in mind; that the bank/lender will not sell it for a ridiculously low price if they feel that they can get more after a foreclosure. Can it be bought for less than the current market value? Yes, depending on the location from 10% to 25% under market value.

For the seller with a second mortgage, the negotiations will be a bit more involved, but given enough time, with a proper offer, the sale should lead to a successful conclusion.
After the above, come the investor properties. First, those investors that have gone bust or almost bust and have one mortgage are good short sale candidates, followed by those with second mortgages. However, if they have any assets, the short sale can be delayed and very often not completed due to the lender attaching large deficiency notices against the seller which they may not agree to thus causing the short sale to fail.

If you have an indication that the short sale belongs to an investor with considerable assets, be very leery as there is a good chance that the short sale will never happen.
The Short Sale Contract:
Your odds of a successful short sale are much better if you select an agent that knows the short sale process with a good track record. Unfortunately, you can’t always select the listing agent of a short sale and if they do not have much experience and/or short sale knowledge, it can be a very difficult transaction.

Once underway, the short sale is almost the same as any transaction. It is an agreement by a buyer to purchase a certain property from the seller. Both parties sign this agreement (the Purchase and Sale Contract) and now the sale is contingent on the specifics of the contract. In the case of the short sale, probably the important contingency is a lender or bank approval. Most short-sale contracts will specify that after the initial approval, all timelines will commence after lender approval. There is also a given time for the lender approval that may or may not require adjustment at some later time during the waiting process.

There are many ways to structure a short sale offer and this is where selecting an experienced agent will help your chances of a successful conclusion as well as protect your interests along with a reasonable escape or withdrawal clause.

The Short Sale Process:

Unfortunately, more often than not, this involves a lot of waiting. A good short-sale agent should try to get you updates or status reports every week or so. If they don’t, ask them, but be prepared for no news. When the lender orders an appraisal or BPO (Broker Price Opinion – a simplified appraisal normally performed by a real estate agent), it means that the end is getting closer. Probably (but, not always) within 30 days of an answer.

The Bank/Lender Approval:

This is not a sure thing, and the Bank/Lender could simply say no, and the buyer is back to square one, or they could come back with a counter offer that the buyer can either accept or reject or, they can simply approve the offer.

After making you wait all of this time, the bank will invariably demand a quick closing. Sometimes trying for as little as a week. Don’t be bullied at this point. You will need to complete inspections and satisfy yourself that the property is in an acceptable condition. If financing is involved, adequate time must be given to complete the financing contingencies.

The Closing:

The hard part is over and you will soon take ownership of your property at a great price. But one more thing to consider, often the lender will use their own attorney or title company to convey the title. They will only be interested in ensuring that they are free of any obligations on the property. They may or may not ensure all other liens or obligations on the property are satisfied. It may be very prudent to have your own attorney review the title and the title policy.

Congratulations if you have enough patience and diligence to complete this process!

If you’re considering purchasing a home, but feel ‘out of touch’ with what’s happening in real estate give us a call today at (772) 323-6996 or visit us on the web at www.GabeSanders.com or www.TreasureCoastFLHomes.com. Our office is located at 2391 SE Ocean Blvd. in Stuart, Florida; please ask for Gabe Sanders.