Price Reduced on Poo Home on 5 Acres with Pond in Palm City

07.16.09 by
Price reduced by $24,000:
Nicely updated and spacious CBS home on 5 private acres in Palm City Farms. A private paved road leads you to this wonderfully secluded setting, yet close to shopping, “A” rated schools, and restaurants. A large patio area with a screened oversized pool (new in 2003) is perfect for entertaining or lounging in the Florida sun. Spacious rooms with lots of closet space include a formal living room, dining room, large kitchen family room combination with a wood-burning stove, and office. The land is completely fenced and includes a large stocked pond with a dock. Fish, ducks, and turtles abound for nature lovers. Native trees and open spaces make for an incredible private oasis. New roof and AC in 2001.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Repeat buyers are fueling a turnaround in housing

06.20.09 by
Present homeowners are the group contributing most right now to the monthly increase in existing home sales.
They are an especially big factor in the uptick in midprice home sales. Additionally, they are reducing the national inventory of unsold homes, according to the National Association of Realtors.
First-time buyers are playing a role in allowing homeowners to move up to larger or more expensive homes. When first-timers buy an existing home, the owners are free to trade up.
It’s a great move for both buyer and seller. The first-time buyers can take advantage of the government program that subsidizes their purchase. Homeowners moving up have many choices, some of which are priced well below what they would have sold for a few years ago.
Multiple offers
The bargains are not so cut-and-dry. If the home is in a good neighborhood and is a good value, it could draw multiple offers. Title service companies say one in 10 such homes draw multiple offers at this time, as opposed to one in 30 last fall.
Multiple bids usually indicate a market in which prices are rising and buyers outnumber sellers. Right now, however, most properties that receive multiple bids are distressed or foreclosed homes on which buyers are competing while still looking for a bargain.
Bidders need help
Bargain hunters can be deceived about the true value of a property. They could end up saddled with one in a declining area or one that has basic construction flaws.
Going it alone in a property search takes a great deal of time and expertise the buyer probably doesn’t have.
A real estate agent can make important recommendations, arrange for inspections, and guide the buyer through the entire buying and financing process.
With the agent’s help, a successful and trouble-free purchase can be arranged.
If you’re looking to purchase a home on Florida’s Treasure Coast, we know our neighborhoods, why not visit our website GabeSanders.com or call us at (772) 888-2885.

Read the Fine Print

06.13.09 by

After all your preparations and marketing efforts, what do you do when you get that first offer? Don’t jump for joy or wallow in disappointment until you’ve read all the terms. Price is just the beginning, and other contingencies will ultimately affect your bottom line.

In reviewing the offer, pay attention to seller concessions, which can range from asking you to pay closing costs to include an allowance for roof repairs. Buyers may also request the inclusion of certain articles of personal property not physically attached to the home. This might include the refrigerator or pieces of furniture. You can decline or accept the terms, but it’s best to establish in your listing those items included and excluded in the sale.

Mortgage and appraisal contingencies indicate that the buyer will seek financing at a certain rate and terms and that the appraisal must satisfy the lender. Make sure that all of the terms are realistic, and that there is a reasonable time limit for the buyers to secure their financing.

These and other terms in the offer impact how much you net from your sale, regardless of what actual buying price is stated. It’s possible that a “full price” offer could result in thousands less than a lower offer with fewer contingencies, so please consult with a representative before listing and before accepting or rejecting any offers.

Understanding real estate dilemmas and their solutions is our business, and we’ll happily share our knowledge with you. Why not visit our website GabeSanders.com or call us at (772) 888-2885.

Martin County Real Estate Inventory Declines

07.14.08 by

Martin County Florida’s single family home inventory in June declined for the fifth consecutive month, which is an indication of market improvement.

There are 2409 homes available through the Multiple Listing Service, a decrease of 71 homes from the previous month and 495 since January 2008. The month-to-month inventory declined 20.5 percent since January.

The current inventory reflects a 16-month supply at the current sales pace.

Martin County had 152 single family home sales in June, a 5 percent improvement from the 144 home sales in the month prior, and 12 percent above the 134 homes sold in June 2007.

To date, 754 homes have been sold by Realtors so far this year, a 4.3 percent increase from the 722 sales posted in the same period a year ago.

The median sales price of a home in Martin County in June fell to $234,950, a 3.1 percent increase over May’s $227,500, but 32.5 percent below the June 2007’s $337,000.
Condos sales in Martin County increased 22.2 percent in June, from 35 in June 2007 to 45 last month. Condo median prices fell 30.7 percent from $260,000 in June 2007 to $180,000 for June of 2008.

There are currently 1168 condos available for sale in the MLS as compared to 1281 in June of 2007.

These numbers show signs of positive activity in home and condo sales while showing that we’re not at the end of price declines yet. If inventory levels continue their decline, we should see a leveling of prices when absorption rates reach less than 9 months.

Understanding real estate dilemmas and their solutions is our business, and we’ll happily share our knowledge with you. Why not give us a call at (772) 323-6996 or visit us on the web at http://www.gabesanders.com/ and http://www.treasurecoastflhomes.com/. Our office is located at 1121 SE Ocean Blvd. in Stuart, Florida (Sewall’s Point); please ask for Gabe Sanders or .

January 2007 Market Update

03.04.07 by

Martin County escaped the slowdown in home sales experienced across the rest of the Treasure Coast during January, but not the continued slide in prices.

Realtors sold 93 homes, the same number as in January 2006, according to figures provided Tuesday by the Martin County Realtors Association. The median home price dropped to $296,000 from $310,000 between the two months, the association said.

Martin County’s report was a positive indictor for the market, said Jennifer Atkisson-Lovett, president of the Realtors Association of Martin County. “We are seeing our residential market begin to show signs of recovery as our number of pending sales are much better than 2006,” Atkisson-Lovett said. “We feel confident about the 2007 market as the pending sales have increased, and buyers are recognizing the outstanding values for investment that are abound in this market.”

Martin’s condominium market was mixed in January. There were 29 Realtor sales in that month versus 50 a year earlier, according to the association. The median price jumped, though, to $305,000 from $219,900 between the two months.

When lumped with the Port St. Lucie-Fort Pierce market, the housing market looked weaker. The Florida Association of Realtors said Tuesday that its members sold 252 existing single-family homes in that metropolitan area during January, down from 343 a year earlier. The median price dropped 8 percent to $241,000 from $261,500. Realtors sold 51 existing condos versus 62 in January 2005. The median price rose 6 percent to $225,000 between the two months.

“Basically, this shows that people listing their homes for sale are not marking them down to the proper market prices,” said Brad Hunter, director of the housing research firm Metrostudy in West Palm Beach. “At least there are still buyers in the market.”

Don Santos, past president of the Treasure Coast Builders Association and president of Santos Construction, said the numbers reflected that it’s still a buyer’s market. “I didn’t expect there would be a turnaround this month,” Santos said. “But I actually think the numbers are a good sign because we’re not seeing 30 percent and 35 percent drop-offs anymore. The bright side is a lot of consumers can really get good deals now.”

The West Palm Beach-Boca Raton area saw 496 sales of existing homes, down 15 percent from the 586 recorded during the same period last year. Prices dropped 1 percent to $388,000 from $393,700 last year.

Statewide, sales of single- family existing homes totaled 9, 382 last month compared to 12,906 homes sold in January 2006 for a 27 percent decrease.

Nationwide, The National Association of Realtors said sales of previously owned homes rose by 3 percent while the median price dropped to $210,600, a decline of 3.1 percent from a year ago.