NBC 6 is doing a special “Great Deals in Real Estate” on TV Monday night at 11 pm and I thought, “Finally, a positive real estate promotion!” How gutsy of Willard Shepard to go against most of the press and talk about the market in a different light. How many people in the spotlight go out on a limb and say something that no one else is saying – except maybe our managers-“Pam, be glad you have 25 listings, you will be positioned well when the market turns.” Luckily, one of my listings at 11805 SW 84 Ave-MLS # d1191904 is featured on the NBC-6 promo because it truly is a “Great Deal” — being the cheapest ACRE in the entire Palmetto Middle/Palmetto Senior district and yes, it has an adorable 2,000 sq ft home on it, hardwood & marble floors, etc. Not to mention uncountable rare palms and exotic fruits — a mini-Fairchild Gardens. Well, since doing that interview for the cameras it has gone from our mouths to God’s ears and the market has made a turn for the better. Willard Shepard should get the award for perfect timing or the luckiest newsman in Miami.
Why do I say that? Common sense is in seeing activity — what the graphs tell you is 3 months too late. I’ve been working with a lady looking for homes under $250,000 in a certain neighborhood that she had been looking at for 6 months, there were 15 homes in that range. We waited 10 days to put in a contract, she wanted to think about it as well she should. There ended up being three contracts, she was full price. Surprise! She did not get the house! We re-grouped to look at the others. Almost all were under contract. We put a contract in on a short sale, but the banks are not playing ball and we will look again on Tuesday. In Palmetto Bay another buyer has been looking for 6 months, we made a bunch of appts and about 33% were already under contract. One realtor said she had gotten 3 contracts in the last two weeks. The time for buyers to make decisions is here! I’m now thinking Willard Shepard hit the nail on the head at the perfect time. The market has plenty of great deals out there and people are jumping in and buying. I’m always telling my kids to use their own common sense over what everyone is saying. Well, if you see a great deal and you know you can afford – buy it or someone else will! Yes-your relatives will be telling you to wait for “the bottom of the market” but no one can time that, and it is not them that loses that “Great Deal”. That is not to say prices have stopped going down. The difference now that was not there 6 months ago, is sellers realize they MUST be competitive when a property goes on the market. I understand people want to get the most for their property, I want that for my customers too, but if you hold on to a property too long at a higher price, in the end holding the property with 50 of your favorite neighbors. You Must be the “Best Deal” on the market. It takes more than price to sell a house (advertise and showing-a great realtor will do that for you) but price does attract people to look, if they don’t look they don’t buy.
What if you don’t want an acre but still want a “Great Deal”. I have a Super Listing-on the clearest canal in Palmetto Bay-you can Net the Huge fish-at 17744 SW 83 CT.,4/2.5 for $549,000-MLS#d1262700–my customers put it on the market $75,000 less than their competitors-they wanted to be the Best Deal by far and they are! In Shenandoah at 1938 SW 21 Terrace for $325,000-just reduced to be a Great Deal for the buyer. The Grove at 3245 Oak-walk to the CocoWalk only $325,000. Did you want a house in Kendall?-10314 Sw 135 Place, 3/2.5 in Fairview Homes that has a Master Bedroom half the size of the second story with 3 closets-make one a shoe closet-for $375,000. Another is at 13830 SW 106 St, great sq ft at 2600-lots of interior extras for only $399,000. Both “Great Deals”. I have a listing in the Design District at 95 NE 50 Street for only $239,ooo. The same family had owned it for 50 years, if only they could see how that area is growing and that people are putting money into redoing these truly art deco homes.
Buyers now have the whole package. The “Great Deals” are out there. Buyers now should look at what you can afford-a good mortgage guy is more important than ever. James Venney is in our office and he is the best. You can afford a better house because interest rates have gone down so low, even a quarter of a percentage can effect how nice a house you can buy. Work with a realtor, like me, who puts your needs and wants first. Realtors are free for buyers but you want the best deal and that takes work . Ask questions and be educated . Look at school systems, that helps in resale even if your kids are in private schools. That is even more important now that the economy has tighten up. Sellers should go with a full service realtor, like EWM, and pay the full percentage, some people are even raising it for an incentive. To sell your house faster in this market is the name of the game. The more people who know about your house the more money you will get. EWM has a mailer that goes to hundreds of thousands of people, they’ve had the mailing list for years. You need to be marketed as the “Best Deal” in the neighborhood and the buyers will come. Someone is making money in this market it might as well be you.