Silly Home Selling Mistakes

Considering how tough it is to sell South Florida homes these days, why make it harder on yourself by going completely against the “do this, do that” advice you’ve likely read in countless real estate blogs or has been told to you by a real estate agent?  Here’s some examples other homeowners have done which you should definitely not follow if you’re looking to get your home sold.

Keeping personal items lying around. Your favorite basketball team may be the Miami Heat while the potential buyer might favor the New York Knicks.  You may enjoy hunting when the buyer is completely against it.  For whatever reason, sellers have been known to ignore the rule of removing personal items only to find out they’ve ruined any chances of a potential offer.

Showing off your artistry. Homeowners sometimes choose to paint the walls with some color choices that look good to them but might be seen by home buyers as bizarre, such as black and white which some have been known to say makes the interior feel like a “funeral parlor”.

Allowing pets to stick around during the walkthrough. Many pet owners assume that everyone loves their kitty or canine as much as they do when in fact, some people are either allergic or simply don’t like them.  Plus, if the pet doesn’t take kindly to strangers, that’ll only make things worse if it’s constantly barking or trying to bite the home buyer doing a walkthrough of the home.

Failing to take care of the upkeep. Doesn’t it seem counterproductive to leave leaky faucets or roofs unfixed?  Some sellers have been known to employ the “sell it as is” approach in order to save on the costs required to renovate which simply doesn’t make any sense, especially if the property in question is not in foreclosure in which case some necessary repairs are expected.

Home Sales Pick Up

As news outlets continue to signal more and more woes for real estate and the economy, it’s always refreshing to hear about positive gains every now and then, even if they are few and far between.  Given the tough state of the U.S. economy and the lack of home buying, it’s expected that many people’s opinions about South Florida homes and real estate in general would be largely negative but realistically speaking, there isn’t a need to think the market is going to implode either.

The past year has seen home sales drop to record lows in many areas.  It’s worth noting however that the worst has already occurred and as many had suspected, marginal increases would begin to show up on the horizon and that’s pretty much what has happened.  The month of April showed another boost in home sales which, while not necessarily dramatic, does lend more credibility to a slow market recovery.

Real estate property values also increased somewhat in spite of yet another drop in actual home prices.  True, prices are still unusually low if we evaluate them alongside the incredible prices they were demanding just a few years ago when the real estate market was flourishing but a rise in property values is still a strong indicator of market stabilization.  Once values reach higher digits, real estate buying and investing will make sense once again.

These small increases go a tremendously long way in reinforcing that while the market climate is “murky”, there is indeed a demand for housing.  Considering that prices in many areas in the country (South Florida homes included) have made high end real estate significantly more affordable, investing should steadily pick up which will drive up home sales subsequently boosting property values and thus thrusting the market back into much better shape.

Home Pricing Strategies

These days, homeowners trying to part with their South Florida homes have to grapple with a considerably harder home selling situation.  In addition to spending money on potential repairs or improvements, one of the toughest hurdles is the asking price.  Instead of being able to simply do an evaluation of surrounding homes and set a competitive value, sellers need to sit down and play with the digits.

Use careful pricing. Retailers have a tendency of advertising something for $299.99 when the item in question is worth $300.  That small difference actually convinces a buyer that the price is a lot cheaper since they’ll read the number two instead of a three.  That same strategy could be used for pricing a home.  Why not ask for $299,999 instead of $300,000?  It’s subtle but research shows it works.

Inflate the price. There’s a mutual benefit in choosing to ask for an amount beyond what’s acceptable, the primary one being that buyers have plenty of room to negotiate with a seller and therefore feel like they’re receiving a substantial discount.  But of course, this strategy also comes with the assumption that the property actually merits a higher price, otherwise buyers will be turned off.

Be specific. The same way that a lower digit is interpreted as a lower price, naming a specific figure like $396,989 as opposed to something like $400,000 gives the impression of a bargain.  The even figure does emphasize quality so ultimately, it’s up to the seller to decide what “message” they wish to communicate to buyers in terms of how they go about pricing.

Remove the need for complex mathematics. Buyers already have tons of calculations to do what with closing costs and additional fees.  Since one of the key strategies to selling today is maintaining a potentially variable price, don’t lower it to something that forces prospective buyers to solve difficult equations in order to figure out how much the home dropped in terms of percentage.

Downtown Miami Goes Green

Affordable Miami Condominiums

Living in a Miami Beach condo is an experience most will agree is near heavenly. You’ve got the beach close by and tons of great spots to dine and indulge in. The problem is where does one even begin? There’s practically hundreds of beachfront condos all offering this and that amenity at varying prices.

The question you may be asking yourself is “Where can I find a condominium that goes beyond the standard amenities and residential features, is located in a popular area, but isn’t as expensive as the Il Villaggio condo?” Things become a bit trickier in that case since you’ll often have to compromise in some aspect which is why considering something like the Ten Museum Park condo in downtown Miami is worthwhile.

Most condos come with the standard set of amenities (pool, fitness center, etc.) and rarely go beyond that in order to keep unit prices low. For a comparably inexpensive price when judged alongside something like the Murano at Portofino condo, you can get all the standard features plus extra perks and unique residential features like interconnecting floor plans at Ten Museum Park.

And then there’s the location. The standard practice is to charge more depending on a condominium’s proximity to the beach or to some notable attraction and an example of this is 1500 Ocean Drive, a superb luxury condo right on Ocean Drive but with a cost many people could not agree with. This is where someone who wouldn’t mind taking a five or so minute drive to Miami Beach would appreciate Ten Museum Park’s waterfront location right by the major highway that crosses into said city. Residents can still enjoy all those gorgeous views realtors are always boasting about for a considerably less price.

If there’s plenty of money available to live in something like the Murano Grande then sacrificing comfort and luxury for price is almost impractical. On other hand, if a ten million dollar condo sounds absurd, spending the time to explore other comparable options will more than likely uncover several all inclusive options for half that amount, Ten Museum Park being just one example of many.

Condo Architecture Attractiveness

One of the most fascinating aspects of art and/or architecture is the varied ways it can be interpreted. Some may see visual finesse and some kind of deeper meaning while others will simply say “it looks nice” and find it unremarkable. The subjectivity is perhaps why some architecture enthusiasts tend to become spellbound by the time and effort placed on the more recent Miami Beach condos and skyscrapers and why the city is often regarded as an art lover’s paradise.

Keeping the former statements in mind, if one were to examine the Ten Museum Park condo that stands just before the entrance to Miami Beach, it could be seen as one of those “less is more” designs or just another simplistic structure that shows not even a hint of creativity as that of the Waverly condo for example, putting aside what either condo may look like from within.

These new luxury Miami condos currently in various stages of development are abundant. Just by driving through downtown, you’ll notice entire areas under construction being designed and developed by respected names like Kobi Karp, Arquitectonica, and the Related Group. Why so many? Miami has consistently been singled out for its exacting attention to its overall look. Couple that with its tropical vacation atmosphere and it’s easy to see why numerous television shows and films have perpetually used this southern city as a backdrop.

The beauty of Miami architecture is how, even more than 25 years later, these developers and designers continue to find new exciting ways to dazzle and stay ingenious. Fairly recent buildings like the Bentley Bay don’t necessarily shatter conventions with their modest curved design but they are absolutely a refreshing deviation from the common and straightforward rectangular building blueprint. What’s more, this attention is very often placed on structures that don’t necessarily need it like public services buildings.

So how much does this design play a role in terms of swaying someone to seek out greener pastures and invest in something like a Ten Museum Park rental or a rental in any other of the many South beach condos? Probably a great deal since Miami has always maintained a high degree of artistic aesthetic. However, there’s no denying how well the culture and sultry ambiance has managed to complement this art and entice people the world over to check out this southern hotspot.

Condos are Breaking the Mold

The beauty of condos in Miami is their multifarious community that has all-inclusive amenities making them a virtual hub for your everyday activities. Condos do have their bad sides as well, they’re considered less customizable than conventional homes and many consider the designs they provide to be drab and uninteresting.

This minor problem exists with Miami Beach condos; for the most part condominiums follow a general blueprint which gives a “cookie cutter” appearance to them when compared. While some design features are requisite for safety, other features have been very uncreative. There was a high demand for unique, stylish condos and developers have begun reversing the trend of monotonous architectural design.

Creatively designed buildings such as Ten Museum Park or the Floridian have developed great reputations just for their unique designs. Ten Museum Park defies convention by providing not just the standard eastern view for its luxurious lofts, but views in multiple directions, providing more visibility, more light and a generally superior ambiance. The Floridian, which reduces its size to remain thematic towards old-style Florida, is given a classic South Florida color scheme while being completely surrounded by indigenous palms.

Miami and Miami Beach should have condominiums worthy of its natural beauty. There’s nothing ordinary or drab about the weather or residents of South Florida, so their residents should complement the already elegant existence. Stylish is the standard in Miami and condos that don’t adhere to that policy will most likely fall by the wayside.

If you’re selling a home, do you place emphasis on roadside appearance? That extra touch may endear a buyer to your home and expedite the negotiations process in your favor. All your hard work to customize your home through decoration and renovation will pay for itself and then some, especially when your eventual buyer gives you a great offer.

Holiday Home Sales

‘Tis the Season to Sell Your Home

The December holidays have come quicker than anyone had expected. You’re no doubt besieged by the chaos and mayhem of the holiday season and though you have your plate full consider this: the holiday season means more than just light-hearted family moments in front of the fireplace. December is the month where consumer activity peaks in every market. If you’re thinking of ways to advertise your home in December while keeping with the holiday spirit…light up your house! Holiday lights are a great way to let your home stand out amongst the throngs of properties on the market

Behind this most incendiary annual celebration season lies the opportunity to expose the quality of your home. With a twenty dollar investment in holiday lighting you can exponentially increase the roadside appeal of your property. The beauty of this method is how well it coincides with the holiday festivities. There are so many potential benefits to displaying your home, whether it is the joy it brings to your neighbors, friends and family or the progress it brings to your home sale plans.

If the prospect of decorating your house in the holiday season for the purposes of promotional advertising is frivolous spending to you, one should be aware of the dramatic price reduction of home decoration lights after Christmas. The opportunistic seller can use this deal to their advantage and stock up for the next year. Remember everything is competitive and even if you want to dress up your house to give it more roadside exposure, folks are raising the bar on their Christmas decorations, so it may require some creativity and dedication to stand out.

Make your way over to any shop selling holiday items and you will discover that after Christmas prices nearly cut in half. Houses don’t sell as quickly on the market now as they did five years ago; therefore it pays to be patient and prepare for better times. The NAR recently predicted that next year’s real estate market will show the first rise in five years.

Anything you can practically invest in finding the right buyer forur home you should, just because buyers are hard to find and the longer you hold a property on the market the less likely it is to sell the following year. December is an opportune time for every market and every business. Gift giving is becoming more and more extravagant and high end gifts are hitting the mainstream. The gift of a home is priceless to its recipient but a new market for you. Be prepared to show off your home for the holidays.

 

Buying a Home

Buying Benefits, Believe it or Not

You should buy a home now.

Before you start shouting colorful obscenities at your computer screen, take a moment to consider a few of the reasons below. All joking aside, buying a home today requires solid vigilance and perhaps even a sizable smidge of hesitation, even if prices have dipped to record lows. If you’re still on the fence, consider some of the following.

Enjoy a sense of belonging. The truth of the matter is your home becomes something of a sanctuary that you spend the majority of your life in. Two important factors for your overall well being are a sense of belonging and stability, both of which can be appeased by owning a home. What’s more, you can accessorize and complement your home to truly give it your own unique spin and make it more to your liking, something that can’t be done if you’re under the stringent rules associated with renting. The freedom and sense of coming home to an inviting abode is priceless.

Seize great financial perks. As a homeowner you can expect to pay a fixed sum on your loan instead of having to endure periodic rent increases that may hinder whatever efforts you’re making towards long term savings. Come income tax time you could possibly use the entire interest sum as a tax deduction which may actually make owning your home less of an expense had you chosen to rent.

Exploit the equity. If you’ve been diligent in making your mortgage payments, your home equity will subsequently increase which can then be used to favorably assist you in other lofty transactions that may require borrowing such as pricey home repairs, college tuition or vacation planning.

Every situation is different and, if you believe you’re doing just fine taking the renting approach then more power to you. The benefits of buying are worth mentioning, despite the cries of those who believe otherwise. Whether you choose to take the next step and actually go through with a buying decision is up to you but don’t deny yourself the experience if you’re actually willing to do so due to all the negative reports you’ve likely read in some place or another.

Luxury-Property

Coral Gables for generations had consistently sharp rising property value. Its perpetually good market has often been restlessly easy to the savvy real estate investor who simply needs to have the capital for a sure return. However, what was once a haven for investors seeking an assured %150 return is now apparently fledgling; but looks can be deceiving, the housing prices are dropping which is where savvy real estate investors can move away from their humdrum investment scheme and prove themselves. The luxury property market is poised to reenergize the market and in long term return investments at a much higher rate, are you?

 

South Florida’s sturdy luxury property market has created a community of confident investors that understand the lasting appeal of South Florida luxury property. New buyers take solace in knowing the luxury property prices has maintained lasting stability and stable rise in value throughout South Florida’s history. Furthermore, real estate markets like Coral Gables have less risky when it comes to long term return on an investment as time has solidified Coral Gables prolific reputation. Recently, prices have taken a sharp drop in many places in South Florida including Coral Gables; most have seen this as a sign of decline but others see it as an opportunity, prices in Coral Gables rarely drop and worthy investors have set their sites on luxury property investment. This market shift has elicited fear in shrewd investors and opportunity in the bold.

 

Caution is the theme of today’s real estate investor; however, one should be active in checking prices on the large inventory of houses on the market today. Prices can range from what was standard for homes before the market slump to dramatically reduced prices for a quick sale. It is certainly a buyers market now and five years from now their will be many sorrowful investors wondering where their gumption was when the prices for luxury property were low.

 

It’s questionable whether mid-range real estate markets have the same stability. It’s likely that both long term market investments will yield profits, but the opportunity for people to buy high-end property at midrange costs is now and it probably won’t last long.