Pricing a Short Sale Correctly

If it is a short sale - price it attractively. I did a search of Viera, Suntree and Rockledge homes listed for sale as short sales. Some of the homes look nice but the list prices were, in my opinion, still way too high.

In my opinion, some of these properties would be priced too high even if they were being sold for fair market value. (In the end the home will sell for the price set by the market.)

I do not follow the logic of pricing a short sale higher than any client would ever offer? [A "short sale" property is one where the probable selling price will be less than the monies owed the lender.] Lenders want these homes sold. After all, banks don't want to own a property.

If you want to sell, price it right. After all, I am not going to waste my client's time looking at your listing!

If you are interested in the "short sale" market in Brevard County, Florida, please let me know. I would be happy to forward listings for you to review.

"Home Sellers More Realistic" - FL TODAY March 25, 2008

The title of this post was pulled from the Florida Today newspaper business section this morning. Maybe it will be official now in Brevard County Florida once the local mullet wrapper has proclaimed it!

I am not anti-Florida Today although I disagree with some of their positions. But the truth is a lot of folks limit their knowledge to the information provided by headlines. It may the teaser headlines for the local evening news, it may be the headlines from the local newspaper. Regardless, folks seem to relish in the gathering of tidbits of knowledge and then discussing the issues widely. Reminds me of those old CliffsNotes that summarized a topic in 20 pages or so. They gave you the general idea although an incomplete, indepth understanding of the topic!

This is one headline I hope they discuss. The other headline appeared on the front page of the Florida Today this morning a well. It stated "Existing-home sales rise, but prices fall." Another great tidbit of information.

Is the media finally on-board with the actual state of the Brevard County real estate market? Let us hope so. It is not all gloom and doom..... Sellers are more realistic and buyers have great opportunities.

Interested in Brevard County real estate? Give me a call at 321-255-2600 or email me at agent@moving2brevard.com .

Gary Waters, Florida Licensed real estate agent, Century 21 Baytree Realty, Melbourne, Florida. Call me about Baytree Golf Course homes - after all, it is in our name!

Overpriced listings require patience.....

So you want to sell that Viera, Suntree or Rockledge house or condo? Ready to team up with a professional real estate agent and a flagship real estate brokerage? And, you already know how much you want for that property, right? How much??? Did I hear right???

I received a call from a seller wanting to place their home on the market. Apparently they have been trying to sell it for some time as a FSBO (For Sale By Owner). It is a very nice house in a convenient location. The problem - price!

These folks purchased their home about a year ago. They now want to sell it for 15% more than they paid.(And it looks like they paid fair market price - no special deal!) Now folks, just in case you have not heard it, the market has been down for about two years.

I do believe that prices have somewhat returned to an appropriate level although you still see reductions. Most of the new listings are priced realistically from the start which was not the case in the past!

As for my potential seller.... if logic prevails the list price will be realistic, if not...patience will be required. A property that is priced too high will just sit. It will become one of those properties people look at to justify the other "good deal."

If you are considering selling your Viera, Suntree, Melbourne or Rockledge home and are unsure of the market price, let me know. I will provide you with a no-obligation opinion of what I believe its market value is at this time. If you are looking to purchase, please let me know as I welcome a chance to work with you.

And, if you are a first time home buyer, call me. My business Associate, John Feeley and I enjoy working with and educating first time purchasers. FYI, buyers do not pay the real estate agent fees, sellers do!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty. Melbourne, Florida. Call or email me at (321)255-2600 (office) or agent@moving2brevard.com .

I can't help you right now...but....

Those are some very difficult words that I, and many other real estate agents, have spoken before....that is - If we were being honest.

Sometimes we get approached by folks, perhaps first-time home buyers or someone moving into our area. When you first meet your real estate agent you are going to be asked some questions - pre-qualifying questions. Why? As a real estate agent we must identify your needs before we know how we can help you.

What types of questions? Let's see...

• Have you ever purchased a home before?
• Have you spoken with a lender about mortgages and getting pre-approved?
• What is your time frame for getting a place?
• Are you familiar with the area?
• Do you need to sell a home before you buy? If so, has the current home been listed?
• What are your needs?
• What are your "must haves?"
• How is your credit?
• Do you have money or a source of funds for the down payment and closing costs?
• How much can you pay monthly?

A real estate agent needs to understand your needs. And, to be honest with you, the first and most important issue is the credit and mortgage. Unless you have the cash, purchasing any property will hinge on these answers.

If you have not researched the mortgage issues then I, as your agent, will recommend you contact a lender. If you would like me to put you in touch with one, I certainly will. Keep in mind that I make no money off the mortgage regardless of your chosen lender. I am in the business of finding you a home - that is when I get paid!

If, after a consultation with the lender, you are told that you can not qualify for a mortgage then we need to put together a game plan for getting that mortgage. It may take a while. It may take a year or more. But with a plan in hand we can go forward - down the road.

So, for right now, I can't help you...but...when we deal with the issues, I can!

Are you unsure about the home purchasing process? Do you want some straight answer? If so, feel free to drop me an email at agent@moving2brevard.com .

Gary Waters, Licensed real estate agent, Century 21 Baytree Realty, Melbourne Florida.

Happy Birthday United States Marine Corps - November 10th

Today I am not writing about homes for sale in Brevard County Florida, Viera or Rockledge or anywhere. Today I just want to say Happy Birthday to all you Marines out there. Semper Fi! What is it? 229 years or so? I never was good at math!

As part of my 20 year U.S. Navy career I was privileged to serve at total of seven years with the U.S. Marine Corps. Actually I do believe these were the best years! So as you celebrate, enjoy and know that we, as a country and individuals, appreciate your service to the country.

Semper Fi!