Another Emerald Lakes Home Sold

We found the perfect buyer for this single family home in Emerald Lakes in Stuart, FL 4357 SE Scotland Cay Way sold for $200,000. We negotiated a number of repair concessions from the sellers that they didn’t want to do. It was our knowledge of contracts and our negotiating skills that made this happen.

This is a one owner 3 bedroom 2 full bath 2 car garage single family home located in south Stuart. This well maintained home has found it’s new owner. Low HOA fees include landscaping. An ideal winter getaway with minimal maintenance required or the perfect full time home to enjoy your carefree Florida lifestyle. All ages are welcome and this is a pet friendly community.

The community of Emerald Lakes lies n the Port Salerno area of Stuart, Florida and consists of 400 2 and 3 bedroom town homes and 130 single family villas. The town homes and villas are governed by two separate home owners association yet share many of the same amenities.

Spread out over 100 acres of beautiful Florida landscape, with 3 ‘Emerald Lakes’, miles of walking paths, 7 tennis courts, 3 heated pools and two club houses. Very conveniently located within walking distance of a Publix Grocery store, Beall’s, Walgreen’s, Banks, Gold’s Gym, etc.

Just a few miles away are numerous Golf Courses, Martin County’s famous waterways, marinas and beaches and also within minutes of I-95 for easy access to locations both north and south. Fort Lauderdale is only a little over an hour to the south and Disney World is just over 2 hours to the north. A perfect location!

Residents of Emerald lakes enjoy the good life with low HOA fees and an excellent management staff for both Home Owners’ Associations.

Search here for all Homes and Town Homes in Emerald Lakes

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Another Emerald Lakes Home Sold

To Buy or Not to Buy: First Time Stuart Home Buyer Question

07.29.15 by Gabe Sanders

To Buy or Not to Buy: First Time Stuart Home Buyer Question

Historically low mortgage interest rates have been a lifeline for many Stuart first time home buyers in recent years, keeping home ownership within reach for many who wouldn’t have otherwise been able to make the leap. For them, and for all the other than first time area home buyers, the fact that home values have continued to rise has been an added boon.

But, as just about every mortgage industry expert will tell you, the gig is almost up for those rock bottom rates. Yet the question for many first time home buyers remains: is it time to buy or not?

It’s a good time to take a hard look a few of the known facts—

According to web giant Zillow, as of Q1 2015, potential home buyers should expect to spend about 15% of their income on a mortgage for an average home in the U.S. When you compare this with the historical averages, it makes today’s rates temptingly low: the typical percentage has been closer to 21%. In terms of dollars spent monthly, that’s a big (and terrific) difference!

At the same time, the historical average has a typical renter shelling out 24% of income. Today, that’s closer to 30%…making first time home ownership that much more inviting.

Taken together, Zillow’s new calculations definitely appear to make finding a home to buy the more affordable option. On the other hand, it’s also true that a number of factors work against first time home buyers—in Stuart and nationwide. College debt, for one, is far more of an obstacle than it used to be. And the other side of those all-time high monthly rents in many places are making it that much harder for would-be first time home buyers to save for a down payment. But with the widespread phenomenon of growth in rents outpacing growth in home values, the rental affordability problem isn’t likely to improve any time soon. With mortgage rates likely to be on the increase as early as this fall, the long term outlook may not grow rosier as time passes. The implied takeaway: strike now while the iron is hot!

Whether this real estate foray is your first or tenth, if you’ve been considering taking advantage of this summer’s Treasure Coast home buying bargains, contact me today for an introduction to a qualified mortgage broker—and to discuss whether this might not just be the perfect time to start your search!

How Today Stacks Up for Would-be Stuart First Time Homebuyers

Royal Oaks Tower Condo in Downtown Stuart Sold

07.25.15 by Gabe Sanders

Royal Oaks Tower Condo in Downtown Stuart Sold

Fantastic downtown Stuart location in the Royal Oak Towers of Stuart FL has been sold by the Gabe Sanders BlueWater realty team. The sales price was $95,000. This condo was sold prior to actually coming onto the MLS, though it was through a cooperating broker.

Downtown Stuart Condo, 2 bedroom, 2 bath completely renovated with tile floors, corian counter tops, stainless steel appliances, hurricane impact windows, 1 covered parking, top floor unit with elevator. Lots of natural light with open floor plan. Conveniently located, walk to downtown restaurants, the Lyric and shops. Just minutes from the beach. All ages are welcome and 1 large pet is permitted.

Search for Royal Oak Towers Condos for Sale

More information about Stuart Florida Real Estate can be found on the Gabe Sanders BlueWater Realty team’s web site.

Royal Oaks Tower Condo in Downtown Stuart Sold

Sweet Sorrow? When it’s Parting Time with Your Realtor®

07.23.15 by Gabe Sanders

Sweet Sorrow? When it’s Parting Time with Your Realtor^®

It’s true of any commercial offering: sometimes a perfectly saleable item doesn’t move off the shelves as rapidly as predicted. Real estate is no exception—not every Stuart home is sold as quickly as its owner and the property’s Realtor^® wish. When that happens, and the term of the original listing expires, an important decision must be made: should the listing be renewed, or should another Stuart Realtor be enlisted to try a different approach?

If you have been dissatisfied with the amount of effort your current Stuart Realtor has demonstrated up to now, the decision will be easier than otherwise—especially if you have already communicated your impression and been less than overwhelmed by the response. You are right to expect that your Stuart Realtor will have posted attractive, accurate listing material for the MLS, has included your property in the advertising program that goes out to the community, and has been diligent and professional in showings and (if it was agreed upon) open house presentations. You should have been able to contact her or him within a reasonable amount of time when communications were called for, been satisfied by the punctuality of appointments when scheduled.

If performance in any of these basics has been unsatisfactory, it’s entirely reasonable to entertain a change in representation. On the other hand, if your Realtor has not disappointed in any dimension, you are left in a problematical situation—one which has no clear-cut solution. Whether or not your inclination is to stick with the team in place, to make the right decision you need more information. The best guidance is—get it!

Before you decide whether or not to extend the relationship, ask your agent to review the days on market (DOM) for similar nearby Martin County properties. An analysis will show whether yours is the only slow-moving property, or whether it has simply hit a lull in neighborhood activity.
Ask yourself whether you have paid attention to the suggestions offered by your current Realtor. If you have chosen to bypass any of them, this could be an appropriate point at which to reappraise.
If you have had many showings with few offers forthcoming, it’s a pretty good sign that your asking price is higher than prospective buyers believe is justified. If that’s the case, changing Realtors alone isn’t likely to have the desired effect. You’ll need to fix whatever problems visitors are seeing…or else lower the price.

If a hard-headed analysis tells you that switching Stuart Realtors is warranted, don’t worry too much about the reaction you will get. Most Realtors are very professional; they know that clients do occasionally change representation for a number of reasons, and that hard feelings are simply not warranted. Be ready to interview several agents and to compare what they offer. Pay extra attention to how they propose to stimulate activity—you are well-positioned to appraise their ideas!

For my clients, in addition to an energetic marketing approach, I put a premium on keeping the highest quality communications flowing at all times. Give me a call whenever you have a Martin County real estate query!

Stuart FL 34996 Condo Market Report June 2015

07.14.15 by Gabe Sanders

Stuart FL 34996 Condo Market Report June 2015

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for June 2015

For June 2015 in the 34996 Zip Code area of Stuart, Florida :

There are currently 102 active condo listings (Down by 1 condos last month).

28 Condo sales are pending and awaiting close or lender approval (Decreased by 11 condos from May).

26 Condos Sold in June (Decreased by 7 condos from May)

The Stuart FL 34996 Condo Market continued to be very active through June. We are seeing a small slowdown of the activity level in this very hot segment of the Stuart FL condo market. Though, we remain in a sellers market. I anticipate some more easing as we go into the summer and fall months.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – increased to 3.9 months from May’s 3.1 months. Still a strong sellers market but soon to turn as we go into the summer months. A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for June 2014 were: 139 active listings, 33 pending sales and 17 closed sales. Considerably stronger activity this year even though there’s a significant decrease in inventory as compared to last year.

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Stuart Florida Real Estate presented by:
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Stuart FL 34996 Condo Market Report June 2015

Tropical Paradise Waterfront Lot Sold

07.14.15 by Gabe Sanders

Tropical Paradise Waterfront Lot Sold

Sorry, but you missed it. This Tropical Paradise waterfront lot sold for full price of $75,000 by the Gabe Sanders BlueWater Realty Team.

Paved driveway and pad in place. Existing mobile home has been removed. There’s 81 feet of waterfront with ocean access suitable for a smaller boat that can go under two fixed bridges with approximately 6′ clearance. Community has an RV boat storage lot with one space for every resident. Great opportunity in a wonderful friendly community.

The Tropical Paradise community is a subdivision with modular and manufactured homes that are slowly replacing the original mobile homes that were in place.

Click here for more information and pictures

Search for Tropical Paradise homes for Sale

More information about Stuart Florida Homes and Land can be found on the Gabe Sanders BlueWater Realty team’s web site.

Tropical Paradise Waterfront Lot Sold

Stuart Homes for Sale Get Boost from National Forecast

07.13.15 by Gabe Sanders

Stuart Homes for Sale Get Boost from National Forecast

Suppose you are a Stuart homeowner who intends to move to a different home eventually, but for the moment, you aren’t under any particular deadline pressure that would dictate when you have to put your home on the market. In that case, you’re likely to keep tabs on overall market conditions, awaiting what looks like circumstances favor those with homes for sale.

Twice a year, the National Association of Realtors^® issues their economists’ midyear forecast—it appeared last week. For those with homes for sale in Stuart (or anyone thinking about adding theirs to the homes already for sale), the outlook was heartening.

The forecast was for the greater U.S. economy to improve, bouncing back from the weather-blasted winter stall which made the first quarter a disappointment. Subsequently, consumer spending opened up, causing expectation that the GDP would rise in the remainder of the year. Overall, the forecast for 2015 was positive, though lukewarm. As a whole, the year promises to be “not bad but not great.”

On the other hand, focusing narrowly on the outlook for U.S. housing market activity—homes for sale—the upside momentum was already decidedly more in evidence. The prospects for any single one of the Martin County homes for sale depend upon a combination of factors, but if national activity is any reflection, the latest numbers packed what you could call a “6-7-8-9 punch”:

Existing home sales in May notched a high water mark not seen in 6 years (and the 2009 level had been artificially inflated because of an $8,000 homebuyer tax credit).
New home sales hit the highest level in 7
Housing permits to build new homes registered an 8 year high.
Pending contracts to buy existing homes for sale reached a 9 year high.

Examining the demographics behind the figures, it was clear that, for the first time in quite a while, first-time buyers are back. Last year during the same period, only 27% of buyers were first-timers. They now make up a more normal 32%. As prices brought by homes for sale continued to rebound, institutional investors were disappearing from the scene, creating a more typical mix of buyers.

A major part of the reason why homes for sale were fetching “stronger than normal home price growth” had to do with a shortage of inventory—ascribed to the volume of new homes being built (or not being built). The rule of thumb is generally for about 1.5 million new homes to be constructed per year, a mark that’s failed to be realized for a number of years. In 2009, only 550,000 home were built—and the total had barely reached a million through last year. But now, with optimism among homebuilders at newly robust levels, it’s expected that normal output will have fully resumed by 2017.

The other major factor boosting sale prices was the specter of mortgage rate increases. Rising mortgage rates “initially rush buyers to decide”—just the kind of sign that could tip the scales for a homeowner who’s been waiting to add their property to the homes for sale in Stuart. Should you decide that this summer is shaping up to have just the conditions you’ve been waiting for, I hope you’ll give me a call for a no-obligation consultation!

Stuart Homes for Sale Get Boost from National Forecast

Stuart FL 34994 Condo Market Report June 2015

07.12.15 by Gabe Sanders

Stuart FL 34994 Condo Market Report June 2015

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for June 2015

For June 2015 in the 34994 Zip Code area of Stuart, Florida :

There are currently 83 active condo listings (Decreased by 8 condos from May).

34 Condo sales are pending and awaiting close or lender approval. (Decreased by 4 condo from last month)

23 Condos Sold in June (Up by 4 condos from May).

The Stuart FL 34994 Condo market showed strong activity for June 2015. Slightly less inventory and pending sales for June, while closed sales were up slightly. This segment of the market remains quite active.

The one month absorption rate decreased to 3.6 months compared to last month’s 4.8. Continuing as a very strong seller’s market. Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months. Meaning neither the buyers or sellers have an advantage in the real estate market.

Last June the numbers were 111 active listings, 46 pending sales, and 23 closed sales. For the 34994 zip code area of Stuart there was considerably greater activity last year.

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Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Stuart Florida Market Report ZIP Code 34994 – Condo, June 2015

Royal Oaks Tower Condo in Downtown Stuart Under Contract

07.10.15 by Gabe Sanders

Royal Oaks Tower Condo in Downtown Stuart Under Contract

Fantastic downtown Stuart location in the Royal Oak Towers of Stuart FL has now gone under contract during the sneak peek version of this listing. The list price was $99,900. If you have a condo that is in Martin County that you need to sell quickly and for the best price, give us a call for a no obligation consultation.

Search for Royal Oak Towers Condos for Sale

More information about Stuart Florida Real Estate can be found on the Gabe Sanders BlueWater Realty team’s web site.

Royal Oaks Tower Condo in Downtown Stuart Under Contract

Heads-Up: Stuart Mortgage Rate isn’t Standing Still

07.05.15 by Gabe Sanders

Heads-Up: Stuart Mortgage Rate isn’t Standing Still

In case you set your alarm clock to go off when it was time to buy a home, that clang you may be hearing from somewhere in the distance could be it (figuratively speaking, of course). The reason has to do with the direction of Stuart mortgage rates (among others).

Now, I realize this could come across a little bit like Aesop’s boy who cried ‘Wolf’ since a year and a half ago the experts were unanimous in predicting that mortgage rates would rise throughout 2014 (to at least 5%, if I remember correctly). And not only did they not jump—after a short rise, they actually fell!

The experts were wrong. To the extent I agreed with their call, I was, too—but at least I wasn’t lonely. And I also try to be clear that predicting the future of any financial movement is never a sure thing. The same is true today…but…

Last week, less than a week after the Federal Reserve monetary policymakers emerged from their meeting, Bankrate web commentator Janna Herron published a view that sent alarm bells ringing in my head. It makes so much sense, I feel compelled to share it. Already publicized in the rest of the media was the announcement that 15 of the 17 Fed officials now agree that they expect to raise the federal funds rate at some point within the next 6 months (and one expert was quoted as expecting that as early as September or October). Fifteen out of 17 is a 88% majority, so it couldn’t get much clearer. The funds rate has been cemented to the ground at precisely zero for almost seven years. Since 2008.

Stuart mortgage rates are based upon that Fed funds rate. When it rises, mortgage rates have to rise, or lenders would have to be reclassified as charitable enterprises (not likely). The reasons given for the Fed governors’ near-unanimous prediction are both the rise in the pace of job gains and, as was reported, “The Fed also noted improvement in housing.”

Now, that news may have prompted Stuart mortgage-rate watchers to sit up and take notice—but not necessarily have them hearing alarm bells going off. But there were two other pieces of information:

First, the current national mortgage rates reported last week rose. They were pegged at just over the 52-week average for 30-year fixed loans, but at 4.13% it remained below the 4.33% of a year before. In other words, still (perhaps momentarily) in the historically basement-level range.
Second, new mortgage activity began to rise, moving 1.6% up from a week before. Applications had been dropping, but now they were on the move. This while home builder confidence levels soared, with expectations hitting the highest levels in nearly a decade.

As with any batch of economic numbers, the signs can be interpreted in multiple ways, but one way sure does seem to stand out: mortgage rates are attractive now, housing activity is almost certainly on the rise, and mortgage rates and monthly payments are very likely to become more expensive. The same thought may be occurring to more and more people as we enter the summer home-buying season: “What if I could pay less every month for the same home…for the next 30 years…”

Note to Treasure Coast home-buyers. Listen carefully: that could be the sound of your own alarm bell going off! If you think you hear it, now would be a great time to give me a call!

Heads-Up: Stuart Mortgage Rate isn’t Standing Still

Stuart Real Estate Sales Success Means Pricing-Right First!

07.02.15 by Gabe Sanders

Stuart Real Estate Sales Success Means Pricing-Right First!

Today’s Stuart real estate market is an alien landscape compared with what it was ten years ago, when it seemed as if a seller could just plant a sign in the front yard and wait for competing offers to roll in. This summer’s real estate scene is equally unlike that of five years ago, when many properties could languish for long months with few showings and fewer legitimate offers.

It’s been a welcome return to a more stable, predictable Martin County real estate climate. With sale prices rising at a sustainable rate and the average days on market making a return to levels approaching historical norms, Treasure Coast real estate participants—both buyers and sellers—gain confidence on what to expect on both sides of home selling transactions. Particularly for Stuart homeowners who are planning to list, that means that their properly prepared property is much more likely to garner a reasonable offer within a reasonable time frame.

This outcome is only likely when sellers prepare their properties in a deliberate manner. Fix up, de-clutter, renovate, clean—all the common tips that are touchstones for making a strong positive first impression apply. Doing it all before listing is a best practice, just as waiting for buyer feedback to tell you what’s awry is not. Be your own Devil’s Advocate when it comes to repair and maintenance issues as you assess whether you should sell the property as-is, or order repairs. Careful, open-eyed preparation has real value. It makes it much less likely that a pre-closing home inspection will catch everyone by surprise. You put yourself in a solid negotiating position when your home hits the Stuart real estate scene as ready as you can make it.

Preparing the property is Job One, but Job One-and-a-Half is preparing yourself for what you are hoping to achieve. Make sure you have penciled out what the bottom line financial outcome is going to be, which includes what you owe, what price your home is likely to bring, and how the ensuing costs will work out as you move to your next destination.

The biggest unknown is, of course, your property’s ultimate sale price. While online valuation models like Zillow’s are easy to use, they can yield results that are so wide of the mark as to be seriously misleading. Have your real estate agent create the up-to-the-minute comparative market analysis (CMA) which will set out how homes similar in location and amenities have performed in recent months. Those listing and sales prices are the strongest indicators of how your home is likely to fare in this summer’s market—and provide a realistic pointer to what your asking price should be.

Today’s consumers are inundated with information online. With 92% percent of real estate buyers searching via their iPhones, notepads, computers, and all the rest of our electronic paraphernalia, increasingly the tendency is to make quick decisions, often based on price and photos. In a world where consumers swipe or click through hundreds of pieces of information a day, it’s much more easy to be overlooked if your price seems out of line. That puts a premium on right-pricing the first time out. It’s also not a bad idea to have a firm idea in your own mind of your absolute rock-bottom number should be—one that makes sense when your long term goals are taken into account.

This summer promises to be a fine time to enter our Stuart real estate market. I’ll be standing by to assist in all the ways that have proved to be most effective—so why not give me a call?

Stuart Real Estate Sales Success Means Pricing-Right First!

Royal Oaks Tower Condo in Downtown Stuart Coming Soon

07.02.15 by Gabe Sanders

Royal Oaks Tower Condo in Downtown Stuart Coming Soon

Fantastic downtown Stuart location in the Royal Oak Towers of Stuart FL will be coming on the market soon by the Gabe Sanders BlueWater Realty Team. The anticipated list price is $99,900 and for a sneak peek give us a call.

Search for Royal Oak Towers Condos for Sale

More information about Stuart Florida Real Estate can be found on the Gabe Sanders BlueWater Realty team’s web site.

Royal Oaks Tower Condo in Downtown Stuart Coming Soon

Few Sewalls Point Listings Will Top This One!

07.01.15 by Gabe Sanders

Few Sewalls Point Listings Will Top This One!

LE PLAN DE LA TOUR – VILLA FOR SALE

Putting together a Sewalls Point listing is serious business. It has to be brief, to-the-point, and at the same time, engaging. The photos and language of a Sewalls Point listing is the tip of the marketing spear: if it’s dull, and just a repetition of the specifics that are enumerated in the columns of numbers that follow, it’s less likely to get more than a glance from potential buyers.

At the same time, every Stuart listing has to be fastidiously accurate. If it exaggerates or mischaracterizes a property’s features, it will waste time and effort by creating traffic from prospects who were never going to be interested in the first place. They’ll be rightly annoyed. A well-crafted listing for a Sewalls Point home will highlight the distinctive features that make it stand out from the crowd. It will attract qualified buyers who will want to investigate further.

As a matter of course, we in the real estate profession check out lots of listings from many other areas. It’s part of the job, keeping abreast of what is new elsewhere—comparing how others in other areas meet the challenges of language and imagery. Of course, after years of experience, you encounter few surprises.

But last week there was news of a listing unlike any other. I’m not sure that the details and language are going to be useful for describing many Stuart properties, since this detailed a foreign estate (on the Côte d’Azur) being put on the market by “a talented artist and musician.” The asking price is $25+ million, so it’s also a bit pricey for most buyers. But as an attention-getter, this listing ranks right up there at the top.

First off, the talented artist and musician is Johnny Depp, whose comings and goings generate headlines at all times. The listing language, in fact, is most precisely quoted by the Australian Domain real estate site—rather than a French source. The Australian public has been keeping track of Depp because of his continuing brush with authorities there over alleged dog-smuggling activities (his Yorkies, Pistol and Boo, are now safely out of the country). Domain tells us that the estate consists of “more than a dozen buildings, including a main house, several guest cottages, a chapel, a bar & restaurant, a workshop/garage, a staff house and much more.”

Students of listing lingo might decide that this descriptor belongs in the ‘subtly understated’ category, particularly when the “much more” is teased out: the estate, it turns out, is actually a small Provençal village. More than a decade ago, Depp bought an entire early-19th-century village. It may have been a bit run down—but it did include its own church (the actor turned it into a guest cottage, with the confessional becoming a wardrobe). Depp took on the project as a sort of extreme DIY project. The restaurant became his dining room. He brought in a covered wagon for another guesthouse (it’s unclear how that worked out).

Not every Sewalls Point listing rates being quoted in a feature story in The Wall Street Journal, but this one surely did. “A wine cave in the main house has a Pirates of the Caribbean motif,” according to the Journal (as one reader commented, “Go get’m Sparrow!”).

You don’t have to have a French village, though, if you are thinking of adding your own estate to this summer’s Stuart listings. Just give me a call!

Few Sewalls Point Listings Will Top This One!

Stuart Foreclosure Listings Continue Downward Momentum

06.29.15 by Gabe Sanders

Stuart Foreclosure Listings Continue Downward Momentum

If you are one of those Stuart homeowners who has been gladdened to see property values continuing to rebound, you have also been pleased at the steady decline in the wave of foreclosures that were part of the global financial crisis. When the subprime mortgage crisis triggered widespread financial dislocation, many homeowners felt the repercussions. Every Stuart foreclosure that resulted weighed on neighborhood property values, which reflect the dollar amounts paid when nearby homes change hands.

Even most people whose livelihoods were unaffected—who kept their jobs or businesses and continued to make their mortgage payments without difficulty—could have suffered as a result. When the apparent equity of a home dwindled, so too was the amount lenders were willing to lend for refinancing. The comfort provided by fat home equity lines of credit (the HELOCs) suddenly melted when their maximums were cut, or even withdrawn altogether. HELOCs, after all, were a major component in the foreclosure phenomenon. The whole atmosphere caused confidence to be shaken.

But ‘buy low, sell high’ is a proven investment strategy—and ‘buying low’ is an opportunity that typically arises when fear is in the air. Many large institutional investment outfits looked at the situation and apparently asked themselves, what’s more “real” than real estate? They dived into the panic, buying up distressed residences in droves, paying rock-bottom foreclosure prices.

For many homeowners, though, the real effect was psychological. After all, when your major asset is your home, any Stuart foreclosure can be seen as having the effect of bringing your apparent net worth down.

RealtyTrac is the national scorekeeper for foreclosures and REOs (Real Estate Owned, or bank repossessions); and last month they continued to provide comforting news. Although there are ups and downs in the month-to-month stats, the overall trend continues to decline from the high in September 2013. In fact, there was a small uptick in REOs in April, which might seem like bad news; but REOs are actually completed foreclosures—at the same time, foreclosure starts continued their long slide downward.

Daren Blomquist of RealtyTrac was quoted with more good news, confirming that “the overall increase in foreclosure activity in April is a continuation of the clean-up phase” of the housing crisis. But even better was this: “Foreclosure starts nationwide are now running consistently below pre-crisis levels.”

It does seem as if this season is a choice time for sellers to enter the revived market. If you would like to explore the possibilities for your own property, or are ready to start the search for a Stuart home of your own, please do give me a call!

Stuart Foreclosure Listings Continue Downward Momentum

Leadership and Finding the Ideal Martin County Real Estate Agent

06.28.15 by Gabe Sanders

Leadership and Finding the Ideal Martin County Real Estate Agent

A few of our Stuart professionals operate as one-person enterprises, but that’s unusual. Even a one-doctor medical practice has back-up staff. Most lawyers, even if they aren’t in a partnership arrangement, have at least one assistant or secretary to help. Small commercial businesses are called ‘mom and pop’ operations because…well, you get the picture. Almost any serious enterprise takes a team effort to get anywhere—especially in this day and age.

So it’s no surprise that when they set about buying an Martin County home or selling their own, most Stuart folks don’t take on the project all by themselves. Even though the average American family buys a new home every 7 to 10 years, constantly changing state and local regulations make keeping up with them a professional-level challenge. And even though the first part of the buying process—finding the most likely listed properties—can be started from your computer, as soon as the winnowing begins, the knowledge of a Stuart real estate agent—someone who lives and breathes real estate—soon becomes crucial.

As we wade deeper into the 2016 election cycle, one of the themes that keeps coming up is “leadership”—the ability to recruit and direct expert help. When buying or selling a Martin County home, it’s no different: you want the team you assemble to be as strong as possible. That will free you for your most important leadership role, the decision-making. The first order of business is to find an agent who will not only assist with all the real estate transactional details, but also help identify and recommend other reliable professionals you will need in successive steps of the process. Since finding that agent starts with you, here are some tips to help focus your selection:

Everyone responds differently to differing personalities. What type of person do you click with? Do you envision a real estate agent who is a straight shooter—who will deliver realistic advice, a bubbly personality full of optimism—or perhaps a bit of both? Jot down the personality traits that you would like to see in your agent.
Identify needs unique to your situation. If you’re house hunting on a tight budget and need a home fast, you want an agent experienced in finding affordable options. If you’re selling an expensive home in a much-sought-after neighborhood, you might want a Stuart real estate agent who’s sold high-end properties in the neighborhood.
Ask colleagues, neighbors, and friends for recommendations. Don’t collect referrals from just one source. Everyone in your neighborhood might use the same agent, but a colleague might have another recommendation. You want to shop around for an agent, so don’t rely on just one referral.
Check credentials. A credentialed real estate agent is absolutely essential. Of course, nix any agent who isn’t licensed in our state.
Interview your short list. When you meet with potential agents, ask for a list of recent sales completed near your price point. See if you are comfortable with how the agent prefers to communicate: phone, email, text, or a mix. Finally, request the contact information for a few recent clients to check references—and then check them!

Finding your perfect real estate agent starts with the effort put in by the leader: you. I hope your search includes this real estate agent…in fact, why not start by giving me a call!

Leadership and Finding the Ideal Martin County Real Estate Agent

Florida Mortgage Rates on the Rise? Bellwether Signals Clues

06.27.15 by Gabe Sanders

Florida Mortgage Rates on the Rise? Bellwether Signals Clues

If you’ve ever had the kind of neighbor who is apt to borrow something (like your hedge trimmer), only to later complain about how it performed, you know how much patience it takes to hold your tongue. The Mortgage Bankers Association would be justified if they felt that way about me: I read their website, and sometimes quote it in posts about current Stuart mortgage rates—but it sure makes for dull reading!

Anyway, with apologies to their (undoubtedly hard-working) writing staff, last week’s blog about national mortgage rates was as numbers-heavy as usual, yet still held a contradiction…but one that actually makes perfect sense. It also flags what could be seen as a bellwether that Stuart home buyers and sellers would be hard-pressed to ignore.

The apparent contradiction was that mortgage rates were on the increase: national mortgage rates for 30-year fixed loans rose to 4.17%, which is the highest they’ve been since November. This is for conforming loans; the jumbos (greater than $417,000) went north as well, up to 4.15%.

As everyone knows, low mortgage interest rates are terrific for our Martin County residential home sales. The low monthly payments that they create make homeownership more affordable for a greater number of buyers. So when rates increase and monthly payments go up, it should create a drag on the market. The apparent contradiction in the MBA release was that the increase in rates was accompanied by an increase in mortgage applications. And it was a big one: up 8.4% from the week before.

Most commentators were united about the phenomenon, and it’s hard to disagree. In addition to the natural surge that comes with the season (spring and summer are always expected to be quite active), consumers are seeing the uptick in mortgage rates and suspecting that rates will head higher. That’s nudging them to action, causing them to jump in now, while rates are still attractive—especially compared with historical averages.

CNBC’s Diana Olick agreed that such sharp increases actually help the home-buying market. She quotes one lender’s take about the buyers: “They understand that ‘wait a minute, rates are at an all-time low, let’s react now, let’s react before they go higher.’”

It’s far from a certainty that rates will continue to take off. Lots of us remember last year, when almost all the experts predicted a rise, yet mortgage interest rates headed in the opposite direction…and stayed there! But you can hardly blame area buyers if they go with the national trend and decide that locking in today’s rates is a prudent move: it’s a bird in the hand.

If you have been thinking along the same lines, I hope you will give me a call!

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Stuart FL Listing Prices Reflect the Market (or Wishful Thinking)

06.26.15 by Gabe Sanders

Stuart FL Listing Prices Reflect the Market (or Wishful Thinking)

A Martin County listing can be a smash hit when the pictures show a property that’s cosmetically appealing, the copy rings true, and the details hit the sweet spot where features and value are a match for the best the area has to offer. But it still might not be as effective as it should be if one other detail is a little bit off. It’s a detail that can cause qualified buyers—the ones who should be a home’s most interested prospects— to miss the whole show.

I suppose that calling that part of a Stuart listing a “detail” is like calling the end score of the NBA’s final playoff a detail—or calling the final vote count in an election a “factor.” It may be just one element of many, but it is uniquely important. In a Stuart listing, it’s often the first element that shoppers specify when they’re picking which area homes they will consider. If it’s not thoughtfully calibrated to fall within the parameters they name, the results may suffer considerably.

Of course, the “detail” we’re talking about is the price on the listing, and choosing the “right” one is the object. We’re looking for a number that will help a home sell quickly at the highest price possible. If the neighborhood comps—the prices paid and asked for nearby area homes with similar features—were all that mattered, coming up with the most suitable listing price would be a cut-and-dried affair. But there are other factors that need to be taken into account. Some are easy to determine, some…not so much.

the Stuart residential market is a moving target, sometimes building from a lower level, sometimes echoing the latest transactions, sometimes losing momentum.
competitive Martin County listing prices reflect either other sellers’ best estimates of that market for their properties, or else their personal opinions of what they think the market should be–but there’s no way to verify which!
the final selling price of any home is determined not only by the seller’s situation, but by the buyer’s, also, which is a factor which cannot be determined in advance.

That’s why there is no universally agreed-upon formulas to rely upon, and since there is no way to determine what outcome would have resulted if a different price had been chosen, there’s also no way to verify after the fact if the absolute “best” one was chosen—even if everyone considers the sale a great success! Web titan Zillow says, “if the home sells within a few days of listing, chances are you listed too low” yet if a higher price had been chosen, causing that home to linger for months on the market, it wouldn’t have been listed too low. On the other hand, if the listing price were set to court multiple offers, a quick sale could mean a higher selling price was achieved. There’s simply no way to know for sure.

Put it all together and you have to figure that arriving at the right listing price is really more of an art than a science. I help clients by pooling my extensive Stuart experience, up-to-the minute market knowledge, and detailed examination of the property’s unique attributes to suggest the range of listing prices I judge most likely to achieve the Holy Grail—a quick sale at top dollar! If you’d like, we can get together for a no-obligation discussion of your own property’s listing prospects. It’s a great reason to give me a call!

Pet Lovers’ Concerns Impact Hutchinson Island Real Estate Activity

06.25.15 by Gabe Sanders

Pet Lovers’ Concerns Impact Hutchinson Island Real Estate Activity

Stuart residents don’t have to be pet owners to get a sense of just how nutty Americans are about our animals. Just a few minutes of watching TV will do it. After you’ve been bombarded with the images of happy/sad/exuberant/listless cats and dogs who are saved/rewarded by the pet products in the commercials, you won’t doubt that $60.59 billion is being spent on pets this year. It becomes clear how Fido and Kitty can afford to foot the bill for so much of today’s prime time television.

Another fact—one that directly relates to Hutchinson Island real estate—is that slightly more than 56% of all American households are said to include a pet. The ASPCA says that 37%-47% of households have a dog, and 30%-37% of households have a cat (as far as the cats are concerned, it’s the cats that have the households, not the other way around). Whether or not Fido and Kitty are part of your own family, this does give rise to how important the real estate concept of “pet-friendly” homes has become.

Consideration:

Does your finicky cat need a room of his or her own? Does your MegaDog require a large yard? Space is always a leading qualification when you go to assess minimum real estate requirements for your Hutchinson Island family, but since 68% of families include pet needs in their calculations, that is one of the basics that qualify a property. That’s why it makes increasing sense to emphasize pet-friendliness. For instance, if the back yard has a low or not very restrictive fence, a proactive seller might research the cost of installing an invisible fence. Even if they don’t go ahead and actually put it in, having a bid in hand showing that the cost is reasonable could be enough to sooth pet-owning prospects’ concerns.

Consideration:

Although pet owners are unambiguous about considering the four-footers to be family members, that’s not a universally shared concept. If you don’t see (or hear) any signs of pets in a prospective neighborhood, buyers should make certain that a property they are thinking about buying doesn’t carry restrictions that could cause pet turmoil. Local ordinances and neighborhood associations can enforce restrictions on the number and kind of pets.

Consideration:

Along with the growing popularity of pets have come a number of pet perks that have real estate implications. Pet amenities like dog parks are becoming more and more common in newer communities (in some areas, a movement is afoot to feature dog- and even cat-friendly cafes and public buildings).

I hope you will give me a call if you are embarking on an Hutchinson Island house-hunting exploration, or are preparing to list your own property this summer. Pet accommodation is only one dimension I’ll help you make sure is fully addressed!

Pet Lovers’ Concerns Impact Hutchinson Island Real Estate Activity

In Stuart Location Location Location is More than a Catch Phrase

06.23.15 by Gabe Sanders

In Stuart Location Location Location is More than a Catch Phrase

“There’s No Place like Home” is one of those quaint sayings that somehow lasts forever, probably just because it’s so true. “Home is Where the Heart Is” is another one: corny, maybe, but undeniable.

There’s a strictly real estate saying that Martin County residents will recognize at once, too. Less corny as well as a good deal more practical. It’s “Location! Location! Location!”—and it’s every bit as true as the other ones. It’s the where of real estate, and although it is usually thought of in its commercial connection, to a slightly lesser degree, it has major Stuart residential significance.

For those of us who are already Stuart residents, where our next home should be located is almost certainly one of the two or three primary considerations. But even more so for out-of-towners who will be moving into our area. After price range, it’s a ruling factor: location location location—which Martin County neighborhood will be our best choice for home—is a good place to start.

When you’re brand new to any area, just thinking ‘location location location’ is one thing, but going about finding the right one in a timely manner isn’t necessarily easy. First step will be to consult the real estate professional you’ve teamed up with (a good one would be me!) and have an in-depth orientation conversation about our neighborhoods. Next come prioritizing your own priorities:

Professional. If you know the ‘location location location’ of where you’ll be working, the commute distance is likely to be a key factor. The convenience of having your Stuart home as close as possible to your work will only grow with time.

School. If you have school-aged children, you’ll want to research how the schools are rated, or opt to a top-notch private institution. Either way, getting the kids to and from can be less of a hassle if home is in the right place. Location, location, etc.!

Shopping. Weekend mall visits certainly don’t need to be right around the corner, but things like visits to the grocery store can become an irritant if it involves 15-minutes each way…every day! Perhaps not a governing factor, but one that gains importance over time.

Community. Church, social groups, cultural gatherings are either to your liking or less so. Once you have gauged all of those “practical” factors, it will take some local visits and conversations with residents to get the real flavor of the possible communities—and determine which seem most inviting. Access to sports and outdoor recreational facilities also fit into this category…which, taken together, can easily turn out to be the most important quality of life factor.

Unless you happen to be a longtime local resident, many of the qualities of a listing’s location location location in Stuart isn’t fully evident from the listing information. It takes some on-the-ground knowledge, and (ideally) more than one visit. It also will benefit when your buyer’s Realtor^® is a knowledgeable and experienced local resident…which is another good reason to give me a call!

In Stuart Location Location Location is More than a Catch Phrase

3 Inexpensive Improvements to Boost a Sewalls Point Home’s Value

06.21.15 by Gabe Sanders

3 Inexpensive Improvements to Boost a Sewalls Point Home’s Value

When it comes to boosting your Sewalls Point home’s value, the question arises about which of the possible improvements that you might undertake would wind up paying for themselves. At first blush, you might think this should be a cut-and-dried analysis—that is, any improvements that don’t at least add their own cost to the asking price should be disqualified.

But that would be to discount the fact that a property’s improved condition can speed its sale. When a few improvements might change the overall impression from ‘fixer-upper’ to ‘move-in-ready,’ true value is added. Too many days on market can wind up being costly to the seller, not only because of the inconvenience factor, but because interested buyers may assume a deeply discounted offer will have a better chance of being accepted.

In any case, especially when the budget for improvements is especially tight, there are some cheap fixes that can be counted as especially likely to recoup their cost. Here are three that Stuart sellers can consider:

Let There Be Light

Nothing torpedoes a Sewalls Point home’s marketability like the impression that it’s a creaky old relic. We’re not talking about homes that merit ‘antique’ status, which is a plus, but those with rooms that seem gloomy: the opposite of those with bright, airy spaces that convey a cheerful feeling. Because rebuilding a room to actually expand its physical dimensions is expensive, one solution is to create an improved atmosphere with light: adding or replacing light fixtures.

To maximize your bang for the buck, consider adding a showpiece fixture or two—perhaps a chandelier or pair of wall sconces—in key locations. The kitchen, dining room, and entryway/foyer are all great choices for a hanging light fixtures. Buyers often tend to focus on those areas, and respond well when they are transformed into warm and inviting spaces.

Seed Your Way to Curb Appeal

It’s a truism that curb appeal is vital, but when time and budget make it impractical to deal with a full front yard do-over, one of the least costly improvements that immediately boosts eye-appeal is to put the lawn in top condition with a quick reseed. Brown patches and bare spots are a sure way to kill a lawn’s visual appeal, and even otherwise-healthy areas can get a boost from thicker growth. A variety of easy-to-use products are available that allow you to simply sprinkle an all-in-one mixture of fertilizer and seeds that will take root and grow quickly. Take a pass over the lawn now, and with consistent watering, by summer the entire yard can look terrific!

Update Vintage Plumbing

While appearance matters, buyers are still going to be very interested in the “guts” of the home. If you’re dealing with an older Sewalls Point house, it’s likely that the plumbing has seen better days. Fortunately, replacing or upgrading pipes doesn’t have to be as expensive and disruptive a project as used to be the case. Modern technology allows new plastic piping to be snaked between the walls through a few small holes. Amazingly, today’s plumbers can sometimes even avoid installing new pipes by lining existing pipes with self-expanding vinyl bladders that seal leaks and protect water quality.

I’m always happy to provide a no-obligation consultation to discuss which budget-wise improvements have a track record of adding appeal to Stuart home buyers. Why not give me a call?

772-763-8506

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Pet Lovers’ Concerns Impact Hutchinson Island Real Estate Activity

Consideration:

Consideration:

Pet Lovers’ Concerns Impact Hutchinson Island Real Estate Activity

In Stuart Location Location Location is More than a Catch Phrase

In Stuart Location Location Location is More than a Catch Phrase

3 Inexpensive Improvements to Boost a Sewalls Point Home’s Value

Let There Be Light

Seed Your Way to Curb Appeal

Update Vintage Plumbing

3 Inexpensive Improvements to Boost a Sewalls Point Home’s Value

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Sweet Sorrow? When it’s Parting Time with Your Realtor^®