Showing posts with label selling a home. Show all posts
Showing posts with label selling a home. Show all posts

Saturday, December 31, 2022

Buyer’s Market Vs. Seller’s Market Which one do you Need?

 




It is obvious that if you are a buyer you want to be in a Buyer’s Market and if you are a seller, you want a Seller’s Market.

A buyer's market and a seller's market are two terms used to describe the prevailing conditions in a real estate market. Here's an explanation of each:

Buyer’s Market: In a buyer's market, there are more properties for sale than there are buyers looking to purchase them. This surplus of available properties gives buyers an advantage in negotiations.

Characteristics of a buyer's market may include:

High inventory of homes for sale.

Properties stay on the market for longer periods without being sold.

Prices may be stagnant or even decreasing.

Sellers may need to offer incentives or concessions to attract buyers.

Buyers have more choices and greater bargaining power in a buyer's market. They can take their time to find the right property and negotiate for better terms, such as lower prices or favorable contingencies.




Seller’s Market: In a seller's market, there are more buyers looking to purchase homes than there are properties available for sale. This scarcity of available properties gives sellers an advantage in negotiations.

Characteristics of a seller's market may include:

Low inventory of homes for sale.

Properties selling quickly, often with multiple offers.

Prices may be rising due to high demand and limited supply.

Sellers may receive offers at or above the asking price.

Sellers have the upper hand in a seller's market. They can often sell their properties quickly and for a higher price, with less need to offer concessions or negotiate extensively with buyers.

How to Get Ready to Buy:




Click Here to See Fort Lauderdale Homes for Sale


P.S. Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service.


Thank you for the trust placed in me,

Antonio Ortega LLC Fort Lauderdale


                   
        

www.AntonioOrtegaLLC.com     For Residential Properties

www.AntonioOrtegaLLC.net       For Commercial Properties
        
Visit our Secure Website often:  www.SouthBrowardHomesbyTony.com

If you want me to work for you, or you want a list of Homes Available Text me at 954-648-6095

Antonio Ortega LLC Licensed Real Estate Professional with Global Luxury Realty



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South Broward, FL Homes For Sale








Saturday, September 22, 2018

Helpful Tips to Get Your Home Ready to Sell - Value My Home


We’ll discuss some tips that can save you a lot of money and speed up the amount of time your home is on the market, please see my contact information at the end of this article.


A common mistake people make is to spend a lot of money – renovations, new roof, remodeling. While buyers will be impressed with these things, spending $5000 on remodeling will not add $5000 to your sale. Spend as little money as possible, and spend it on cosmetic, readily seen features like interior painting. The time to remodel is when you plan to stay in the house, not when you’re going to sell.

If you think about everything that needs to be done to sell your house, you might throw your hands up in despair, or at least feel some anxiety. Take one step at a time, one small task at a time. Break it down to manageable-sized chores and you’ll have better results.

First things first – have a garage sale. Whatever doesn’t sell needs to be set out for a Disabled American Veterans or Association of Retarded Citizens pickup. Once the clutter is cleared away, it will be easier to see what needs to be done.
This is your first impression, so it had better be a good one.
Edge, mow and fertilize the lawn regularly. Make sure it’s well watered and reseed any sparse areas.
Put a bright coat of paint on your mailbox.
Trim hedges weed lawns and flowerbeds, and prune trees regularly. Cut back overgrown shrubbery that looks scraggly or keeps light out of the house.
Buy a new welcome mat.
Check the foundation, steps, walkways, walls and patios for cracks and crumbling, and reseal if possible.
If you have siding or brick, power-wash it. If you have a painted exterior, consider repainting in a neutral shade. This is especially important if there is any peeling.
Make sure the porch light works.
Clean and align gutters and downspouts.
Inspect and clean the chimney.
If the doorbell doesn’t work, repair or replace it.
Repair and replace loose or damaged roof shingles.
Repair and repaint loose siding and caulking.
Remove oil stains from driveway and garage.
If you’re selling in the winter, keep walks neatly cleared of snow and ice. Otherwise, keep the walks and driveway swept.

Repair broken outdoor steps.
Spring for some brightly colored potted outdoor flower arrangements for the front yard near the entrance.
Keep your garage door closed.
Wash the windows inside and out.
Store RVs, boats and extra vehicles (anything that can’t be parked in the garage) elsewhere while the house is on the market.
Paint the front door.
If prospective buyers walk into your house greeted by the smell of cat litter, cigarette smoke, mildew or pet accidents, there is little chance that even a reduced sales price will persuade them to buy. So, the first thing to do:

 


Clean, clean, clean. This includes walls, floors, inside closets and cabinets – everything. If you must, hire a cleaning service to come in and do the job.
Get rid of clutter. Put away appliances you normally leave on countertops. This alone will make your house appear bigger and brighter. Clean out your closets, garage, basement and attic.
Paint the walls and ceilings a neutral color – off white or beige.
Repair cracks, holes and damage to plaster, wallboard, wallpaper, paint, and tiles.
Replace broken or cracked windowpanes, moldings and other woodwork.
Repair dripping faucets and showerheads.
Buy new cabinet knobs and curtains for the kitchen.
Shampoo all carpets, scrub and wax linoleum, wash and wax wood floors.
Unclog slowly draining sinks and tubs.
Clean out the fireplace and lay some logs in it.
Mend torn screens. Clean out all window tracks.
Check to see that all windows will open and close.
Replace burned-out light bulbs. Use brighter light bulbs.
Make sure every light switch works.
Nail down any creaking boards or stair treads (drive two long finishing nails at opposing angles through the floor and sub-floor into the joist).
Lubricate any squeaking doors
Remove excess, worn or unattractive furniture.
Thoroughly clean all appliances (especially refrigerator and oven).
Replace old toilet seats and shower curtains.
Clear all cobwebs from corners and doorways.
Wash all light switches, handrails and doorknobs.
On Showing Days
Keep draperies and shades open to let in the light.
Place fresh flowers throughout the house.
Have your home well-lit during showing.
At night, turn on porch light and outdoor lighting in back if you have it.

Set out colorful, luxurious towels in the bathroom.
Avoid having dirty dishes in the sink or on counters.
Keep any toys in the children’s rooms, bikes, wagons and skateboards in the garage.
Play pleasant music at low volume.
Spend the day of an open house away from home.
Leave pets outdoors.
Unless you’re selling it yourself, let the agent show your house, and don’t tag along.

Repairs that matter

Making sure your home is clean and aesthetically appealing is only half the battle. You also have to ensure that your systems are in working order and that your home is safe and ready for its next family. A few things to fix before the “For sale” sign is in the yard are:


     Creaky floors. Creaky floors are a great indicator of an older home. While some squeaks are expected, quiet down your noisy hardwood by using wooden shims or special repair kits made for the job.

     Missing hardware. While you might not notice a missing handle on that kitchen drawer you never use, buyers will. Make sure that the hardware throughout your home is intact, functional, and matching.

     Visible exterior damage. Damage to the roof, windows, walkway, or yard will be immediately noticeable and can take away from curb appeal. Fix visible issues so that your buyers don’t get turned off before they ever make it into the house. Finding a reliable and insured pro is simplified thanks to online service directories; just use a search engine and read up on customer reviews to get started.


You don’t have to change the entire layout of your home to make it appealing to buyers. But, a few quick projects, such as adding custom wallpaper and fixing noisy floors, will go a long way toward making the property stand out. Although we are still in a seller’s market, you don’t want to get lax about home repairs and renovations. For everything you’re not willing to do, the next seller is. Tackle the list above for a quick and easy sale.



Have a Wonderful Day!


                   
        
Visit our Website:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional

Text or Call 954-648-6095

Global Luxury Realty, LLC

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Sunday, September 9, 2018

Closing Costs When Selling or Buying a Home


As a rule of thumb you should set aside 5% – 10% for closing costs and other minor charges, if you are selling you can help pay some of the buyer closing costs if you are buying you may ask in your offer to purchase that the seller pay some or all of your closing costs specially if you are not asking for much of a discount from the asking purchase price.
Non-Recurring Closing Costs Associated with the Lender
l Appraisal fee: The property being appraised is collateral for your mortgage (you’re borrowing money against the value of the property you’re borrowing money to buy) so the lender will want to verify that the property’s value is comparable to similar property based on recent sales in your area. l Credit Report l Flood certification fee: The certification verifies whether your property is in a federally designated flood zone. l Flood monitoring: Monitors remapping of flood zones. l Lender’s Inspection fee: for newly constructed property to verify that construction is complete with carpeting and flooring installed. l Loan discount: AKA points, each point equal to 1 percent of the loan amount. l Loan origination fee l Mortgage broker fee l Tax service fee: For monitoring your payment of property tax.
Other Lender Fees
l Administration fee l Appraisal review fee: Usually done on higher-valued properties. l Document preparation l Underwriting fee l Warehousing fee: The cost of a “warehouse” line of credit. l Wire transfer fee: This is the cost to transfer funds from one account to another.



Items required to be paid in advance
l Homeowner’s insurance: You are usually required to pay the entire first year’s insurance at closing. l Mortgage insurance: Some first-time homebuyer programs still require the first year’s mortgage insurance to be paid in advance. l Pre-paid interest: The interest that accumulates between closing day and the first payment due date. l Up front mortgage insurance premium l VA funding fee: This is paid to the Veterans Administration for guaranteeing your loan.
Reserves Deposited with Lender
l Homeowners insurance impounds: You will need to deposit two months’ worth of premiums into the impound account to start it up. l Mortgage insurance impounds: Usually two months’ worth of premiums. l Property tax impounds
Non-recurring closing costs
l Closing/escrow/settlement fee l
Courier fee: This is the charge for sending documents back and forth between lender and borrower. l Home inspection: This is an optional, but recommended, cost. l Home warranty l
Homeowner’s association transfer fee l Loan tie-in fee: Usually charged by the closing agent, this is for services they provide in dealing with the lender.
l Notary fees l Pest inspection l Recording fees: To record documents with county recorder. l Sub-escrow fee: The title insurance company charges this for dealing with the closing agent.
l Title insurance: You pay this to make sure you have clear title to the property.


Stay Safe and Healthy

                   
        
Visit our Website:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional

Text or Call 954-648-6095

Global Luxury Realty, LLC





Click Here to Contact Us



Broward Homes for Sale PQ letter or Prequalification letter Plantation, Davie, Cooper City, Tamarac, Sunrise, Weston, Fort Lauderdale, Pembroke Pines, Hollywood, Miramar.