What is your Property Worth?
In setting the list price for your home you should be aware of the buyer’s frame of mind. Based on a list of houses for sale in your neighborhood, whether via printed lists or online search results, buyers will determine which houses they want to view.
Therefore consider the following pricing factors:
- If you set the price too high your house won't be picked for viewing even though it may be much nicer than others in the area
- If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.
Your Real Estate Agent will provide a Comparative Market Analysis (CMA) that includes information on competitor listings, properties that have recently sold, and those that are currently pending, that is, under contract. In addition, your Real Estate Agent will:
- Evaluate your property's location and lot size.
- Appraise your home's condition, size and age, and any improvements you have made.
- Review the assessed value of your home, taxes, and utility costs.
- Help determine what is the best selling feature of your home
- Suggest what interior and exterior repairs should be considered or deferred.
Your Real Estate Agent uses this information to determine a price for your home taking into consideration your time frame for selling, today's fluctuating and competitive marketplace, and industry knowledge.
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Getting your house ready to Sell
The following suggestions have been helpful to some of our past clients when preparing their homes to sell:
- Clean all carpets, floors and window coverings
- Remove any excess clothing from closets & shelves
- Clear counters, dresser tops and exposed shelves as much as possible
- Organize storage area or garage, remove items if necessary
- Clean hot water heaters & air/heat filters
- Remove some furniture so rooms look bigger
- Remove pets if possible when showing. If not possible, put food dishes & litter boxes out of sight
- Have all lights on when showing your home, replace bulbs with highest wattage bulbs possible
- Open window coverings/blinds during daytime showings
- Remove or store all valuables
- Remove as many personal items as possible such as: photos & knick-knacks
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1031 Property Exchanges - Investment Properties
What is a 1031 Exchange?
1031 exchanges are specifically structured transactions that join together the sale of an old property and the purchase of a new property for the purpose of deferring taxes.
Exchanges are primarily used for buying and selling investment real estate but they can also be used for personal property used in a business. Examples of qualifying property include bare land, rental property, commercial buildings and homes other than your primary residence.
A 1031 exchange can defer the capital gains taxes that are due when you sell property that has increased in value or been depreciated for tax purposes. Internal Revenue Code Section 1031 offers you some relief. It allows you to defer payment of capital gain tax by investing in a new qualified property.
Qualified Intermediary
When considering a 1031 Exchange it is important to use the services of a Qualified Intermediary. This is a mandatory requirement of the IRS.
For more information on 1031 Exchanges and Reverse 1031 Exchanges please contact us and we can provide you with the relevant brochures.
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Selling your Property without an Agent
A number of homes are sold without the services of a Real Estate Agent. In the Florida Keys 87% of homes are purchased through real estate agents.
It is the wise person that prepares for problems before they happen. That’s what experienced real estate agents do in every transaction they handle. Since no closing is over until it is recorded at the courthouse the following items are a sampling of potential roadblocks that can happen during the course of a real estate transaction and an experienced Agent should be able to anticipate and handle them.
The Buyer
Not truthful on their loan application
The Lender
Lender requires a last minute re-appraisal of the property
The Closing Attorney
Fails to obtain information from beneficiaries, lien holders, title companies, title lien
holders, insurance companies or lenders in a timely manner
The Seller
Removes property from premises that the buyer believed was included
The Appraisal
The appraiser is not local or misunderstands the market
Inspection Company
Makes mistakes
Delays report
The Title Company
Does not find liens or problems until last minute
This is a sampling of issues that can occur between contract acceptance and close. Some of these issues can cause delays of days or weeks or even be potential deal killers. An experienced real estate agent is aware of these issues and uses his/her experience to head off these potential pitfalls or, resolve them on a timely basis.
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Choosing An Agent
Before you choose a real estate agent, it is important to know certain things about the person(s) you select to market your home. Consider these questions as suggestions to help you select the best agent to serve you in the sale of your home.
- Do you sell real estate full time?
- What are your qualifications?
- Describe your marketing plan
- Can you provide financial advice to buyers?
- Do you spend much time in your real estate office?
- What is your policy on Open Houses?
- What is your policy on advertising?
- Do you have a support team?
- What will your team do for us?
- How do you generate buyers?
- Are you automated and How do you use technology to give your sellers an advantage?
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How WE help You
Here’s the list of Marketing activities that we do to help maximize the exposure of your property to prospective buyers and ensure that we find the right buyer for you!
- Place a SellState Island Properties sign on the property
- Perform a comprehensive Comparative Market Analysis
- Enroll the property in the Multiple Listing Service
- Submit copies of home flyer to the agents in our company
- Conduct a tour for agents
- Prepare home statistics & photos to enter onto our Internet Advertising
(millions of people are using the Internet)
- Notify the neighbors that the property is on the market
- Produce Property Profile Graphics with color photographs
- Mail a minimum-100 flyers/postcards announcing house is Available for Sale
- Canvas centers of influence to locate prospects
- Prepare a Home Display Book to help in showing the property
- If agreeable with the Homeowner, utilize a lockbox to facilitate ease of showings
- Monitor listing and sales activities to maintain a competitive marketplace position
- Place Special Features Cards on property to point out highlights
- Write and place classified advertising
- Advertise in Island Properties and Real Estate Guide Magazines to expose the property
- Analyze Alternative Financing Plans for prospects
- Follow-up on showings to obtain prospects' reactions
- Calculate Homeowners Analysis
- Involve the homeowner to maximize marketing position
- Involve the homeowner with the Market Preparation Guide
- Consistently Stay in touch with YOU – the homeowner
by mail, phone, fax or e-mail
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