Navigating the Real Estate Market: A Comprehensive Guide for Home Buyers with a Home to Sell

Navigating the Real Estate Market: A Comprehensive Guide for Home Buyers with a Home to Sell

Buying a new home while simultaneously selling your current one can initially seem like a daunting task. However, with the right planning and strategy, it can transform into a smooth and rewarding experience. In this detailed guide, we will walk you through the process step-by-step, ensuring you feel confident and thoroughly prepared throughout your journey.

 1. Assess Your Financial Situation

Before diving into the home buying and selling process, gaining a clear understanding of your financial standing is crucial. Here are some steps to help you get started on the right foot:

Determine your budget: Calculate how much you can afford for your new home by considering your income, savings, and potential proceeds from the sale of your current home. This will help set realistic expectations.

Get pre-approved for a mortgage: Obtaining pre-approval will give you a clear idea of your borrowing capacity and make you a more attractive and credible buyer to sellers, potentially giving you an edge in the competitive market.

Consider bridge financing: If purchasing a new home before selling your current one is necessary, a bridge loan can provide temporary financial assistance, helping you to manage the transition smoothly.

2. Prepare Your Current Home for Sale

A well-prepared home can attract more buyers and potentially yield a higher sale price. Here’s how you can make your home market-ready and appealing:

Declutter and depersonalize: Remove personal items and excess clutter to create a neutral and inviting space for potential buyers to envision themselves living in.

Make necessary repairs: Address any obvious issues that could deter buyers, such as leaky faucets or cracked tiles, ensuring your home makes a positive impression.

Enhance curb appeal: First impressions matter significantly, so ensure your home's exterior is welcoming by maintaining the lawn, adding potted plants, or applying a fresh coat of paint to the front door.

3. I Will Be Your Real Estate Agent

A skilled real estate agent can be your greatest ally during this intricate process. I will:

Provide market insights: Help you understand current market trends and set a competitive price for your home, ensuring it stands out to potential buyers.

Coordinate buying and selling timelines: Assist in aligning the sale of your current home with the purchase of your new one, which can significantly reduce stress and financial strain.

Negotiate on your behalf: Work diligently to secure the best possible terms and conditions for both transactions, ensuring you get the most favorable outcome.

4. Create a Strategic Buying and Selling Plan

Timing is key when buying and selling simultaneously. Here’s how to create a seamless and effective plan:

List your home for sale first: This allows you to gauge interest and adjust your plans accordingly, providing flexibility in your buying journey.

Set contingencies: Consider including a contingency in your home purchase offer that depends on the successful sale of your current home, minimizing financial risks.

Be flexible with closing dates: Negotiate closing dates that allow you to transition smoothly between homes, reducing the need for temporary housing arrangements.

5. Stay Organized and Communicate

Throughout the process, staying organized and maintaining open communication is essential to success:

Keep track of paperwork: Use a checklist or digital organizer to manage important documents and deadlines, ensuring nothing falls through the cracks.

Regularly update your agent: Inform me of any changes in your situation or preferences to ensure I can best represent your interests and adjust strategies as needed.

Stay informed: Keep yourself updated on the progress of both transactions to avoid last-minute surprises and ensure a smoother overall experience.

Conclusion

Selling your home while buying a new one doesn't have to be overwhelming. With careful planning, the right team of professionals, and a strategic approach, you can successfully navigate the complex real estate market and find your dream home. Remember, patience and flexibility are key, and soon enough, you'll be settling into your new home with ease and confidence.

Priscilla Hammond Realtor

HomeSmart

Office 404-876-4901

Direct 678-378-9837

Navigating Property Sales After the Loss of a Loved One: A Comprehensive Guide

Dealing with the death of a loved one is undoubtedly one of the most challenging experiences in life. Amidst the emotional turmoil, the practical responsibilities, such as managing and selling the estate, can seem overwhelming. If you find yourself in this situation, know that you are not alone, and there are resources and professionals who can assist you through every step of the process.

In this blog post, we will explore the essential aspects of selling a property after losing a loved one, providing you with a roadmap to help simplify the process. Our goal is to help you make informed decisions that honor the memory of your loved one while also fulfilling your responsibilities. If you need personalized assistance, Priscilla Hammond with HomeSmart is ready to guide you with empathy and expertise. Feel free to reach out to her at 678-378-9837.

Understanding the Legal Framework

Probate Process

The first step in selling a property after a loved one's death is understanding whether the property needs to go through probate. Probate is a legal process that involves validating a will, settling debts and taxes, and distributing the remaining assets to the rightful heirs.

When Probate is Necessary: Probate is typically required if the deceased person owned property solely in their name. However, if the property was jointly owned or held in a living trust, it may bypass probate.

Duration and Complexity: The probate process can vary in length and complexity depending on state laws, the size of the estate, and whether the deceased left a will.

Working with an Attorney

Given the intricacies of probate law, it may be beneficial to consult with an attorney who specializes in estate planning or probate. An attorney can guide you through the legal requirements and help ensure that the process is as smooth as possible.

Preparing the Property for Sale

Assessing the Property's Condition

Before listing the property for sale, it's crucial to assess its condition and determine whether any repairs or upgrades are necessary. Consider the following steps:

Inspection: Hire a professional inspector to evaluate the property's structural integrity, electrical systems, plumbing, and other critical components.

Repairs and Renovations: Decide whether to invest in repairs or renovations based on the inspection results and your budget. Focus on essential repairs that could significantly impact the property's value.

Decluttering and Staging

The emotional attachment to a loved one's belongings can make the process of decluttering challenging. However, creating a neutral, inviting space is essential for attracting potential buyers.

Decluttering Tips: Start with one room at a time, and consider hiring a professional organizer or asking for help from friends or family. Decide which items to keep, donate, or dispose of.

Staging the Home: Staging involves arranging furniture and decor to highlight the property's best features and create an appealing atmosphere. This step can enhance the property's marketability and help potential buyers envision themselves living in the space.

Setting the Right Price

Determining the right price for the property is crucial to attracting buyers and ensuring a timely sale. Here are some factors to consider:

Market Analysis: I will prepare a comparative market analysis (CMA) to examine similar properties in the area that have recently sold. This data can help you set a competitive price.

Appraisal: Consider hiring a professional appraiser to provide an unbiased evaluation of the property's worth.

Emotional Considerations: It's natural to have emotional ties to the property, but it's important to approach pricing objectively. Overpricing can lead to extended time on the market, while underpricing could result in financial loss.

Marketing the Property

Creating a Compelling Listing

A well-crafted listing can significantly impact the property's visibility and attract potential buyers. Consider the following elements:

Professional Photography: High-quality photos are essential for showcasing the property's best features. I will hire a professional photographer with experience in real estate.

Writing a Descriptive Listing: Highlight the property's unique features, recent upgrades, and its appeal to prospective buyers. Be honest and transparent about the property's condition.

Utilizing Multiple Channels

To reach a broader audience, it's essential for me to market the property through various channels:

Online Listings: I'll use popular real estate websites, such as Zillow, Realtor.com, and the Multiple Listing Service (MLS).

Social Media: I'll also leverage platforms like Facebook, Instagram, and Twitter to share the listing with your extended network.

Open Houses: Hosting open houses can provide potential buyers with an opportunity to experience the property firsthand.

Handling Offers and Negotiations

Once the property is listed, you may begin receiving offers from interested buyers. Here are some tips for navigating this stage:

Evaluating Offers: Consider both the offer price and any contingencies or conditions attached. An all-cash offer may be appealing, but it’s essential to weigh all factors.

Negotiation Strategies: Be prepared to negotiate to reach a mutually beneficial agreement. This may involve counteroffers or addressing specific buyer requests.

Closing the Sale

Understanding Closing Costs

Closing costs are expenses incurred during the finalization of a real estate transaction. These may include:

Title Insurance: Protects against any claims on the property’s title.

Attorney Fees: Costs associated with legal counsel during the sale.

Transfer Taxes: Taxes imposed by the state or local government on the transfer of property ownership.

Finalizing the Sale

The closing process involves signing the necessary documents to transfer ownership of the property to the buyer. Here’s what to expect:

Review Documents Carefully: Ensure all details are accurate before signing.

Transfer Ownership: Once all documents are signed and funds are exchanged, the property officially belongs to the new owner.

Emotional Considerations and Support

Coping with Grief

Selling a loved one’s property is not just a financial transaction—it’s an emotional journey. Here are some tips for managing grief during this process:

Allow Yourself Time: Grieving is a personal experience that takes time. Be patient with yourself and seek support when needed.

Seek Professional Help: Consider speaking with a therapist or counselor who can provide guidance and support during this difficult time.

Enlisting Help from Family and Friends

Don’t hesitate to reach out to family and friends for assistance. Whether it’s helping with practical tasks or offering emotional support, having a support system can make a significant difference.

Conclusion

Selling a property after the loss of a loved one can be a daunting task, but with the right resources and support, it’s possible to navigate the process with confidence. Remember that you are not alone, and there are professionals who can help you every step of the way.

If you need expert guidance tailored to your unique situation, don’t hesitate to contact Priscilla Hammond with HomeSmart at 678-378-9837. Priscilla is committed to providing compassionate, personalized service to help you honor your loved one’s legacy while achieving your goals.

2BR 2BA Condo For Sale in the Renaissance of Pompano Beach

Yes this can be your new home!! Enjoy this tastefully remodeled northeast corner unit with ocean, canal and intracoastal views!! This unit is very spacious and has a renovated kitchen and bathrooms with lovely tile floors throughout. Two balconies with spectacular water views overlooking the Atlantic Ocean and Intracoastal. Washer and dryer in the unit. Boutique building that is very well maintained and managed located across the street from golden sand beaches. Deeded 40-foot dock can be purchased for an additional $50,000 and a covered parking space can be purchased for an additional $30,000.

Located in the Renaissance of Pompano Beach condominium community the complex features a secured lobby, elevator, a billiards room, clubhouse, club room, community room, exercise room, extra storage, heated pool and hot tub.

The unit features fire sprinklers, walk-in closets, dishwasher, disposal, high impact Windows, high-impact glass, high impact doors and so much more come and see for yourself.

Listing provided courtesy of:

 Christian Duhaime 
Remax Consultants Realty 1
1625 South East 17th Street Causeway Fort Lauderdale Florida 33316.
And you can contact me for showings or more information

Priscilla Hammond

.Remax Consultants Realty 1
1625 South East 17th Street Causeway Fort Lauderdale Florida 33316

305.783.4269

 

1361 S. Ocean Blvd., 33062    google map | yahoo map

Bedrooms: 2

• Location: Ft Lauderdale, Pompano Beach, FL

• Post ID: 79253497 ftlauderdale

 

#luxury Florida condo for sale #pompano beach florida #floridarealestate #buying a home #selling a home

• Other ads by this user:

$450,000, 2br, Fabulous 2R 2BA Condo For Sale in the luxurious Porto Bellagio Condominiums (Sunny Isles Beach, FL) real estate for sale: homes for sale

 

Going Through A Divorce In Florida And You Need To Sell Your Home???

Going Through A Divorce In Florida And You Need To Sell Your Home???

Agreeing to sell your home can be a wise decision when getting a divorce because you can easily divide up your assets and use the money for new financial expenses that may arise for both parties.

Since you and your husband or wife have decided to sell your home because you're getting a divorce this information is vital for a successful transaction.

You will need to choose the real estate agent who is committed to hustle and put in the time and effort needed to sell your house fast.

The agent you select will have to be great at marketing and advertising your property to a wide variety of platforms and qualified buyers.

Finding a qualified real estate agent will help save you time and trouble and is your best option under any circumstance.

 One of the things that you don't want to do when you list your house for sale with the real estate agent is make your listing a cash only or all cash listing. This can cause unnecessary delays because pre-qualified buyers are prevalent in every real estate market more so than someone who can afford to pay a million dollars cash for a house. Or any amount for that matter. Make sure the listing agent inputs a variety of financing options for a quick home sale.

Time is of the essence so you should accept all financing types as long as the buyer is pre-approved.

You will need to know the fair market value of your home contact me for a complimentary home value report. During this transition in your life I'm happy to help in all ways possible.

Priscilla Hammond

Real Estate Agent

RE/MAX Consultants Realty 1

1625 SE 17th St. Causeway

Ft. Lauderdale, FL 33316 Office 954-767-4667

Direct 305-783-4269 

#sellyourhome #sellingahome #sellingahomebecauseofdivorce #listyourhouseforsale

How To Sell Your House Fast in Pembroke Pines Florida

How To Sell Your House Fast in Pembroke Pines Florida

This detailed guide will show you how to sell your house fast in Pembroke Pines Florida. We'll cover pricing strategies, preparing your house for showing appointments and finding the right real estate agent.

Days On The Market VS. List Price

 

If you want to know your home's value in today's Pembroke Pines real estate market call Priscilla at 305-783-4269.

Simple Pricing Strategies To Move Your Home Fast

The main key to successfully selling your home is to list your home at the right price. You have some pricing flexibility if your mortgage is paid off or paid down. If your mortgage is still on the high side you're forced to list your price for at least your payoff amount, if the market prices are at those levels, if the market trends are not high enough to meet your mortgage payoff amount then you'd need to consider selling your home as a short sale.

 You have to realize that you can't price it for "x" amount just because that's what you paid for it, the Florida real estate market prices go up and down. You can't sell it for the price you paid for it combined together with the price of all the improvements you've put into it or work you've had done on it. You can't price it at the same price as your neighbors' homes. In most instances, you will only get a buyer if it's priced at what the buyer is willing to pay for your home.

 The way to find the "golden" price to list your home at is to research the recent sales in your area. You want to search within a 1/4 mile radius of your house, same number of bedrooms, same number of bathrooms, same number of half bathrooms, same house style, same year built and same square footage sold within the last 90 days. Select 5 homes that are most similar to yours, these will be your comparables. Add those sales prices together and divide them by 5, that's an average price of what your home is worth today.

 Depending on the value you arrived at by using the above search criteria, list your home's price about $5,000 or more lower than that figure. Now you're probably asking yourself why I said list your house for sale at a lower price, because you want multiple offers and the competitive pricing strategy is the best way to get a lot of action fast on your house. You don't want just 1 offer, you want multiple offers just in case one of the buyers fall through and so they will have a bidding war on your home to outbid each other. Keep in mind this section is about how to sell your house quickly so you'd want to take the steps listed here to do that. 

Another method is to use the same search criteria as above and divide the price the house sold for by the square feet of the house. Do this for all of the five comparable homes separately and add the total and then divide it by 5 to get the sold price per square foot. Multiply that number by the number of square feet in your home and that's your proper list price.

You could pay an appraiser for an appraisal if you don't want to do it yourself.

Your other option is to enlist the assistance of a great Real Estate Agent.

Original List Price VS. Sales Price

Preparing Your Home For Showing Appointments

Since you're selling your home we're going to assume that you'll be moving out of it, get ready for that now. What I mean by that is either pack up everything and put it in a storage facility or get a portable storage unit to put all of your belongings in.

 You want to take everything of value and all of your photos, knick-knacks, pictures, decorative items, your furniture if it's outdated, your out of season clothes (if it's summertime, put the fall, spring and winter clothes in the storage unit), your linens, your dishes, etc. I don't mean everything but almost everything and definitely everything that makes the home look cluttered.

 Nothing looks worse than a beautiful home with clutter that's blocking the true beauty and everyone has different tastes so to appeal to the masses, you MUST do this. Learn how to live like a minimalist temporarily, it'll payoff in the end.

 Spring clean your whole house, clean the walls, baseboards, windows, carpet, flooring. You want to clean it so well that it looks like a brand new house, that's what it will be to your buyer.

 You've been living comfortably in your house for years with all of your decorations and additions that you love so you're used to looking at everything in your home and you like it. Since you want to sell your house, it no longer matters whether it appeals to you or not.

 You need "virgin" eyes to look at your home to give you tips on what to remove to make it more appealing. By virgin eyes I mean someone who's never been inside your home that will give you an honest opinion of your home. You wouldn't be the best judge of that because you're used to it.

Just prior to a showing pour about 3 cups of water and 1/4th cup of Fabuloso into a pot and bring it to a boil and then you'll want to reduce it to simmer immediately. If you leave it boiling too long it'll emit a burnt smell. This will give your home a nice fresh and clean smell and will eliminate any odors present in your home that you've gone "nose-blind" to such as pets, food smells, cigarettes, pipes, etc. It even eliminates the smell of fried fish and we all know how strong those odors can be. Do not use potpourri or air fresheners with food scents like apple pie, cinnamon or vanilla, a fresh and clean scent is always the best. 

Fold your towels and toilet paper like the hotels do, that's always more appealing than just having them hang there.

Open all the curtains and blinds to make your house as bright and sunny as possible.

Sales Price Trends Last 12 Months

Finding The Right Real Estate Agent

We were all born with the perfect "phony" radar which is our gut instinct. If you meet with a Real Estate Agent and something doesn't feel right, go with your gut instinct and move on to the next one. On the other hand I'd say that if you feel that way towards all of the Agents you interview with, the possibility exists that you're not ready to sell your home or that you don't want to sell your home.

There's no rule that says you have to select someone who's been an Agent for 30 years, these days newer could mean fresher with more up to date marketing techniques. If you do interview someone who's had their license for less than a year verify with them that they have a superb support system at their brokerage or a mentor that can help them with any questions if you're leaning towards selecting them as your Listing Agent. Newbies can be okay as long as they have some help when they need it.

Everyone you're interviewing should come prepared with a comparative market analysis also known as a CMA in the real estate industry. If they didn't, they're not genuinely serious about helping you and won't be prepared for other important issues during the transaction. 

This is the number one tool they need to list your house at the right price and if they didn't do that then it's highly likely that they won't do anything else right.

Never ever ever select a Real Estate Agent as your Listing Agent if they seem timid, shy or if they agree with everything you say.

You're choosing someone who's supposed to be negotiating contracts for the sell of (most likely) your biggest asset and you don't want someone who'll back down at the first sign of confrontation. What kind of negotiating would they really be able to do???
 We all have our professions for a reason and we use different professionals for whatever their specialty is.

The Agent you're interviewing should be able to answer instantaneously when you ask them what their number 1 selling tool is. If they can't then either they're not selling any homes, they're trying to figure out what answer you want to hear, they're not doing their own marketing or they haven' t researched their numbers to figure out what works best. In either instance you don't want them as your Agent.

 #HowToSellYourHouseFast

#SimplePricingStrategiesToMoveYourHomeFast

#PreparingYourHomeForShowingAppointments

#FindingTheRightRealEstateAgent
#SellingAHome

Help With The Question- Should I Really Sell My Home?

Help With The Question- Should I Really Sell My Home?

Many homeowners are ready to sell their current home to buy a new house because of so many different reasons.


There are some homeowners who currently owe more than what their home is worth. Does that mean they should sell it? Not necessarily. The home values will go back up in the future and you will no longer owe more than what your home's value is.


 You should sell if:

    You’re moving to a new area and you need to sell your home to buy a new house.
    You can make a decent profit on selling your home.
    There is no way possible to maintain your mortgage payment and you’ve already tried a loan modification.
    Your home no longer fits your current family composition, budget and or lifestyle.

But don’t abandon it and let it get foreclosed on. Owning your own home is still every American's dream, so don’t just give up on yours without a fight. There are several alternatives to help prevent you from losing your home and I can give you tips on how to prevent foreclosure.


For example, I know a guy that had to move out-of-state due to a family emergency. He could no longer afford his current mortgage payment because he had a household to maintain out-of-state. He was going to abandon his home and let it get foreclosed on.


I advised him that before he allows that to happen, I could try to help him. I called his mortgage company to find out how bad his situation was. Luckily he was only 2 payments behind and not nearing the foreclosure process yet. They told me that if he can just pay something on it during the month of October it would keep him safe for a little while.


I talked to him about allowing me to find a tenant for it and to provide property management services for his home since he lived out-of-state.


I found 4 tenants for his property within a week (which the rent amount will cover his mortgage payment and my fee) and I’m going to manage his property for him and pay the mortgage monthly with the rent that I’ll be collecting from the tenant.


There are several other viable solutions to just allowing your home to get foreclosed on, call for a consultation, no problem is too big or too small for me.

#should I sell my home #how to prevent foreclosure #selling a home

Priscilla Hammond, Real Estate Agent

RE/MAX Consultants Realty 1

1625 SE 17th St. Causeway

Fort Lauderdale, FL 33316

Cell 305-783-4269

Office 954-767-4667

Cooper City FL Real Estate Market Trends Last 10 Years

Cooper City Florida Real Estate Market Trends Chart

 

 The chart is made from this data which is the average sales price per month for every month beginning January 2007 through November 2017 for single family houses that are within a 5 mile radius from the center of Cooper City, Florida. There were a total of 26,335 home sales used in the composition of this chart.

Month 2007 2008 2009 2010 2011 2012 January $366,700 $300,000 $196,750 $161,835 $205,000 $183,000 February $350,000 $310,000 $202,500 $199,900 $185,000 $172,000 March $356,000 $302,500 $227,500 $240,000 $187,750 $190,000 April $350,000 $299,500 $200,000 $205,000 $170,000 $188,750 May $335,000 $276,500 $190,000 $187,500 $177,500 $210,000 June $361,800 $280,000 $222,500 $190,000 $194,250 $210,000 July $364,900 $276,000 $218,500 $185,500 $187,500 $212,450 August $372,000 $263,000 $205,500 $197,750 $215,000 $201,000 September $328,450 $238,900 $236,000 $207,000 $185,500 $190,500 October $365,000 $250,000 $213,000 $200,000 $187,000 $224,000 November $343,000 $220,000 $185,500 $189,500 $219,450 $230,000 December $304,000 $221,000 $188,200 $185,500 $185,000 $200,000 Total SP $4,202,850.00 $3,237,400.00 $2,485,950.00 $2,349,485.00 $2,298,950.00 $2,411,700.00 Average SP $350,237.50 $269,783.33 $207,162.50 $195,790.42 $191,579.17 $200,975.00

2013 2014 2015 2016 2017 $237,450 $230,500 $285,950 $281,000 $333,000 $210,000 $240,000 $285,000 $310,000 $329,250 $235,750 $270,000 $287,750 $297,500 $346,500 $235,000 $268,000 $283,950 $315,000 $325,000 $273,100 $263,450 $268,000 $320,550 $320,000 $265,450 $263,000 $310,000 $324,750 $372,250 $280,000 $265,000 $335,000 $317,000 $351,000 $266,500 $285,000 $300,000 $340,000 $355,000 $270,000 $261,907 $272,000 $330,000 $365,000 $274,500 $279,938 $280,500 $325,000 $340,000 $265,500 $265,500 $276,750 $339,900 $346,000 $247,250 $285,000 $315,000 $310,000 $3,060,500.00 $3,177,295.00 $3,499,900.00 $3,810,700.00 $3,783,000.00 $255,041.67 $264,774.58 $291,658.33 $317,558.33 $315,250.00

Looking at this chart 2007 was the year with the highest median single family home price coming in at $350,238 for the average sales price in the Cooper City, FL area. In 2007 the month with the highest median home sale price was August for $372,000 and the month with the lowest median sale price for single family detached homes was December for $304,000. In 2008 there was a big drop in the median sale price going down to $269,783 with February being the highest month at $310,000 and November being the lowest month at $220,000, that's over $100k price drop from November 2007 which was $343,000. 2009 had a median sales price of $207,163 with September being the highest month at $236,000 and November being the lowest month at $185,500. 2010's median home sales price was $195,790 with the month of March being the highest month at $240,000 and January was the lowest at $161,835. For 2011 we had an average price of $191,579 with the highest in November $219,450 and the lowest average sales price of $170,000 in April. $200,975 was the median sales price in 2012 with November as the highest month at $230,000 and February being the lowest at $172,000. If you purchased your house in 2009-2012 you should be sitting pretty currently. 2013 is the year the median home prices started on an upwards trend at $255,042 for the yearly median home sales price. July was the highest month averaging out at $280,000 and $210,000 in February was the lowest. 2014 was $264,775 for the average price for the year. August and December tied for the highest at $285,000 and the lowest was January at $230,500. The median sales price for 2015 was $291, 658 with the month of July being the highest at $335,000 and May was the lowest at $268,000. 2016's average sales price was $317,558 with August as the highest month at $340,000 average home selling price and March was the lowest at $297,500. 2017 is going to be the year with the highest average sales price since the market failure because without December's sales being added in it's already at $315,250. The highest month was June at $372,250 and the lowest was May at $320,000. If you're in Florida and you want to know the market sales trends for your area, text me. Priscilla Hammond, Real Estate Agent RE/MAX Consultants Realty 1 1625 SE 17th St. Causeway Fort Lauderdale, FL 33316 Cell 305-783-4269 Office 954-767-4667

#Cooper City Florida Real Estate Market Trends #single family houses that are within a 5 mile radius from the center of Cooper City, Florida #selling a home #buying a home