Want to know what is happening in the local Real Estate market? Joseph Kipping created a Blog about the Tampa Bay Real Estate market for Buyers and Sellers. We have agents on our team who specialize in the buying and selling side of real estate and will work with you through every step of the way. Real Estate information you can use.
All home sellers want to sell their homes for the most money possible. In our current market, even the most savvy homeowners often sell themselves short in their home sale. There are two tried and true strategies proven to glean the most profit when selling your home.
1. Price it (just a little) too low. Logically, we think pricing our home a little above market value, will leave room for negotiations. Unfortunately, this is often not the case. If you price your home a little below market value, it is more likely to create a bidding war between several offers which in turn can result in a higher final sale. Let the buyers do the negotiating for you by driving the price upward as they compete to win the deal.
2. Hire a real estate professional. People think if they sell their home themselves (For Sale By Owner, a.k.a. FSBO), they will make more money because they will not have to pay a commission. The research tells otherwise. Not only do homes listed by real estate experts sell faster than FSBOs, but also at a higher price. Realtors have the industry resources to market your home to more places and with greater frequency, therefore they are able to reach more potential home buyers. Realtors are also held to the highest standard to be certain your home selling documents are compliant with local laws, thus saving you attorney fees when the time comes to close your sale. Statistically, homes sold in 2017 as FSBOs sold for 6% lower than homes sold with a realtor. The data also suggests buyers who sought out FSBOs over realtor listed homes, were bargain hunters who wanted to negotiate lower sale prices with the owner.
When it comes to selling your home, there are many factors to consider. Where will you move, are you downsizing or upsizing, is it economically prudent to purchase a new home elsewhere, or rent while you find your perfect dream home (see my blog: http://bit.ly/2IhrKeL to find out which is more expensive, renting or buying). These two simple strategies can save you money and time while producing the highest profit when you sell your home.
At The Tampa Bay Home Team, our experts are ready to assist you whether you are looking to buy a home at optimum value, or sell your home at the highest profit. Call us today, we are here to help.
If you purchased a home in Florida in 2017 and occupy that home, you may qualify for a Homestead Exemption. This exemption could result in a savings of hundreds of dollars annually on your taxes. However, the deadline is quickly approaching - END OF BUSINESS DAY, MARCH 1, 2018.
If you purchased a home in Hillsborough County, Click here.
If you purchased a home in Pinellas County, Click here.
If you purchased a home in Pasco County, Click here.
If you purchased a home in any other county, and would like to know how to file for your Homestead Exemption, please call us at: 813-600-1604.
Are you thinking about selling your home this year, next year, or anytime in the future? If so, there are three strategic things you should be doing now.
Keeping up on small repairs
Cultivating curb appeal
If you find getting organized is difficult, staying organized is a bigger challenge. I can speak to this fact. So many people purchase organizational items, start a board on Pinterest, and have good intentions to follow through, but do not know where to start. The answer is simple, start with one cabinet, one drawer, one closet and work out from there. Take one room at a time, one weekend at a time and reward yourself as you progress. Some tips: if you have not used it/wore it in a year - get rid of it, if it is chipped or broken in anyway - toss it, if it is expired - throw it away. Doing this will give you a jump start on organizing your home.
That dripping faucet might not bother you, neither does the dent in the wall from when your child opened the door too fast. However, to potential buyers - these are a big turn off. Keeping up with small repairs around the house will keep your home in sell condition. It will also make it easier to list, when the time comes, because you won’t be scrambling to fix them when you are ready to put your home on the market. So, touch up the paint, clean up the baseboards and fix the dripping faucet.
You don’t need to hire a landscape architect to give your home curb appeal. Simply plant a few plants, keep your pretty flower pots full of lovely blooms and limit your lawn ornaments so your front yard does not appear cluttered. If you have weeds coming through your mulch or rocks, pull them. Start small, stand back and look at your home from a potential buyer’s eyes. Check out this example of simple, yet beautiful example of curb appeal.
The effort you put into organizing, keeping up on small repairs and cultivating curb appeal will be well worth it when you decide it is time to sell your home. Based on average cost and return on investment (ROI), HomeGain.com reports that each of these three low-cost, do-it-yourself home improvements will net between 100-400% ROI to the seller. When that time comes, contact us. Our experts will guide you through the entire transaction from beginning to end. Getting you the most for your investment, and making the entire process streamlined, is our commitment to you.
The struggle is real. Do you buy a home right now, or continue to rent? While there are many misconceptions about why a person thinks they should continue to rent - transient job status, inability to maintain a property, afraid to “take a risk” etc. - the overwhelming evidence shows it is fiscally prudent to purchase a home instead. According to the Tampa Bay Times, people earning an average wage in the Tampa Bay area spend between 37% - 48.7% of their income on rent, whereas, home owners spend only 32% – 34.7%on their monthly mortgage. (http://bit.ly/2DVn8sk)
So why aren’t more people purchasing homes? One misconception is transient job status. In other words, they move a lot with their jobs. Purchasing a home is a great investment. As it continues to build equity, it continues to build wealth for your future. It is also necessary to our psychological wellbeing, to have a place to call home. Michael Schreiner, from Evolution Counseling, says it best, “where the existential meets the physiological, where the biological and spiritual align, is in the deep human need we all feel, at some level of awareness, to have a place to call home.” (http://bit.ly/2EdCkod)
Another misconception is some people do not feel they can maintain a property. There are many property options where the owners have minimal maintenance responsibilities. Some condo associations and even some HOAs include outdoor maintenance in their dues. Other properties simply do not have anything to maintain. And, of course, there are always the neighborhood youngsters willing to do projects around the house for extra money, so they can purchase an item their parents told them they would need to earn for themselves.
For those afraid to “take a risk”, the market has adjusted itself to more than compensate for past errors of judgment. When the recession hit in 2008-2009, the average American household lost a third of its net worth. (http://bit.ly/2DJgtRQ) The housing crash contributed, along with systemic factors already in play, to create a volatile environment of debt. Now, almost ten years after the start of the fall, the data shows the U.S. housing market has gained back $9 trillion in value. (http://bit.ly/2rPvZtT) Essentially, righting itself once more.
Therefore, if you are struggling with the decision to buy a home or continue to rent, investigate your buying options. Contact a trusted professional - we at Tampa Bay Home Team have over 65 five-star reviews on Zillow and have been a part of more than 1400 buying/selling real estate transactions over the last 15 years. We will work with you to find the perfect home for your family/budget needs. With constant changes in interest rates and property values on the rise … the time to buy is NOW.