Miami real estate news and information

Archive for the 'SELLER’S ADVICE' Category

Emotions Can Reach Breaking Point During Inspection Period

A critical and tenuous point in your home sale comes just  AFTER your property is under contract…. when you are still within the inspection period.  It is then that emotions run thin…   and that can play havoc on a home purchase. 

Inspections may well  uncover  nothing beyond what’s already been disclosed by the seller.  More than likely though, additional repair items will be found and noted, and  this is when buyer’s remorse sets inRead the rest of this entry »

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Hiring a Top Realtor … How to Get the Most for Your Money

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What will it cost you to hire a Top Realtor?    

Honestly, do you really want to give away 6% of your sales price to a real estate agent?   Isn’t that a bit over the top? 

Why pay the ‘full fee”?  According to  The New York Times article  published on January 28, 2011 entitled  “You Don’t Have To Pay It” …   you certainly don’t have to pay it… and  by “IT” the New York Times is referring to a 6% commission!  Read the rest of this entry »

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Should You Do Open Houses? Seller’s Advice

So many Realtors whimper  “Open Houses Don’t Sell Homes”.      Right.  It’s not the OPEN HOUSE that sells the house. And I think that’s where the issue really lies.   It’s the Realtor holding the open house who sells the house.   So  I have to wonder whether those who say Open Houses don’t work  are the same agents who don’t want to spend their weekends working. Holding an Open House is easy on the seller.  But it requires work on the side of the listing agent. 

An agent polishing her nails and watching the clock is  going to sell a house.  But open houses work…. if you (and your Realtor) knows how to work them.    I promise!   

The ONLY time I questioned the benefit of holding an open house,  was when I was asked to hold a Coral Gables CONDO UNIT OPEN.  ( I’d recently sold their parents home).   There was a glut of condos then in Miami.  They asked when their first OPEN would be.  

I had my doubts about holding a CONDO open.  Serious doubts!   But …  Someone popped by that OPEN HOUSE who had no intention of buying (he just came in because he was visiting a friend in the building) …  He mentioned liking the building,  talked about his job, an unexpected change in his life, and the fact that he was contemplating renting.  We chatted about the pros and cons of renting vs buying.  We scribbled down the numbers, played with them …  toying with several different scenarios.    He bought that unit … and…  he bought the furniture!

Open a bottle of wine .  Serve some food.   Create electricity.  (Have a bottle of Champagne chilled and ready to pop when you get that offer!)   Wanting to sell?   The Restivo Team will sell yours.   Please give us a call at 305 793-1365  or drop us a note here, whenever you are ready.

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4 Most Common Mistakes to Avoid When Selling Your House … Odors, Owners and Doubts

The four most common mistakes sellers make can all be avoided.  

As a seller, you work  hard to get buyers IN …   You definitely want to keep them interested.

Over the past month we  previewed  countless properties … and it  seems to me that sellers often make easily avoidable mistakes.   You want to make a home sell-able …   

candleAs a seller, you  have two crucial moments as far as getting a  buyer  inside:

1) Your online photographs and description

2) Your curb appeal

What happens once the buyer arrives can make or break a deal.  Regardless of how beautiful your intial presentation,  what happens when the buyer steps inside is CRUCIAL.

I’m writing this blog because it isn’t hard to make a house sell-able.  We showed dozens  of properties this past weekend to our buyers in both Coral Gables and Pinecrest… previewed another 9 homes for two other families relocating to Miami…. and after seeing 8 more at BROKER’S OPENS  yesterday, I thought I’d share 4 recurring mistakes that recur and repeat … that will send a buyer running. Read the rest of this entry »

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Does the Selling Price Fit the Value? What Buyers & Sellers Need to Know

I wish Realtors would take their sellers to see competing listings!   Rose colored glasses

If you’re selling your house, have your Realtor show you the top listings competing with your house for buyers.  We’ve been analyzing the closed sales, the sales prices, pricing per square foot … If there are  40 homes  listed for sale in Pinecrest (in the $800,000 – $900,000 price range)  maybe  2-3  will sell in a given month.   The 2-3 homes that offer the most value are most likely the homes that will sell.  The rest will langour.  (And those other sellers will ride the market down, until  price of the property and perceived value mesh.)

If  you are buying a house, and your Realtor is willing to preview and narrow property listings down for you , you can save a whole lot of time and energy.  Yes it helps if you can see what’s out there, but you really don’t need to see it all.   (You want your Realtor to narrow the search for you…  Any good agent will…  Your Realtor just needs to understand what you are looking for and be able to find it!) Read the rest of this entry »

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Getting Your House Ready to Sell? How To Decide What Needs Doing

First of all,  DO NOT DECLUTTER!   Why am I telling you,  “Don’t  declutter”?   I might use some of what you’re boxing, to stage the property.

Have 2 people walk through and jot down what needs doing.    Your Realtor can be one of those 2 people.   (Helping you figure out what needs doing is part of we do when we list your house.  It’s free … and the insight you’ll get can prove to be invaluable.)  

As far as you TO-DO LIST is concernted, you might be surprised at what others see as needing fixing.   Often, it’s the little, inexpensive things that catch the eye of a ‘stranger’ (ie.  “buyer”)…    You don’t want to miss those, because they are often the deal-breakers.  Read the rest of this entry »

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How Long Does It Take To Sell a House?

In the current market,   if your property isn’t under contract within about 60 days of being listed,  it’s time to evaluate why…   and time to make adjustments.    Have there been lots of visitors and no offers?    No viewings … No inquiries … ?   Low-ball offers?  How long it will take you to sell is contingent primarily on 3 things: Read the rest of this entry »

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IS A LEASE-PURCHASE RIGHT FOR YOU?

wine and cheese housewarming

THIS IS A QUESTION THAT IS COMING UP WITH MORE AND MORE FREQUENCY THESE DAYS:  “IS A LEASE PURCHASE AN OPTION FOR ME RIGHT NOW?”   

THE ANSWER:   IT DEPENDS.

YES… IF YOU ARE LEASING WHILE YOU’RE PULLING THE FUNDS FOR CLOSING TOGETHER.

NO…  IF YOU’RE THINKING THAT MAYBE ONE DAY YOU’LL BUY THE PROPERTY FOR WHAT YOU SET THE PRICE AS OF TODAY. 

OF COURSE THAT’S THE ABBREVIATED ANSWER.  A LEASE PURCHASE  CAN BE STRUCTURED IN A NUMBER OF WAYS BY A QUALIFIED  REAL ESTATE ATTORNEY, WITH CONTRACTUAL EARNEST MONEY DEPOSITS  AND TERMS SPECIFIED, AND PORTIONS OF THE LEASE AMOUNT POTENTIALLY CREDITED TOWARD THE PURCHASE PRICE. 

IF YOU WOULD LIKE TO TALK ABOUT A LEASE-PURCHASE SCENARIO, OR ABOUT A STRAIGHT LEASE, OR SALE, OR PURCHASE, PLEASE DON’T HESITATE TO CALL ME ON MY CELLULAR (305) 793-1365 OR (305) 632-0164 … OR DROP ME A NOTE HERE, WITH THE BEST TIME AND NUMBER TO CONTACT YOU BACK.

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Realty Trac Reports 24% of Home Sales Are Foreclosures

foreclosure notice - miami real estate cafe

Realty Trac reports that currently 24% of  residential home sales are FORECLOSURE property.   

With the shear volume of foreclosure properties on the market  (and  foreclosures expected to rise),  IF YOU PLAN TO SELL YOUR HOUSE over next couple of years, you might do well to seriously consider listing and selling now,  before the real estate market  is burdened by additional bank-owned distressed property and short sales.

We will be happy to talk with you about the pros and cons,  so please feel free to contact The Restivo Team  either by phone or via email here.

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PRICING A HOUSE ACCURATELY IS KEY TO SELLING IT

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BUYERS ARE LOOKING FOR VALUE AND WILL MOVE QUICKLY TO ANOTHER HOUSE IF

1) A SELLER IS UNREALISTIC OR

2) IF NEGOTIATIONS GO BACK AND FORTH  WITH NUMEROUS COUNTERS.

THE NUMBER OF HOME SALES IN SOUTH FLORIDA IS DOUBLE WHAT IT WAS A YEAR AGO.  PRICING HAS CERTAINLY DROPPED …  SOME SECTORS  40-50%  BELOW WHAT IT WAS 5 YEARS AGO.

BUT KEY TO SELLING A HOUSE IS PRICING IT CORRECTLY.  AND HOMES THAT ARE PRICED RIGHT ARE SELLING.

IF YOU ARE CONSIDERING SELLING NOW, WE CAN HELP YOU DO THAT.  WE INVITE YOU TO CONTACT US EITHER HERE, OR BY PHONE.  OUR CELLULAR NUMBERS ARE THE BEST WAY TO REACH US – (305) 793-1365 or (305) 632-0164.   VICKI AND ALEXANDRA RESTIVO.

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