Northeast Florida Real Estate Tips for Buyers and Sellers by Chris Snow

Which Home Updates Are 2018 Buyers Looking for?

Chris@c21CoastalTeam.com (Chris Snow) — Fri, 5 Jan 2018 09:05:00 -0800

If you are going to sell your home in 2018, there are three home updates that will get you the best return on investment and help sell your home for top dollar.

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What home upgrades will buyers pay top dollar for in 2018?

I’ve been speaking with sellers on a regular basis about the buyer trends we’ve seen over the last six months and what those buyer trends will look like in 2018 when it comes to upgrades on a resale home.

Of course, some sellers have no additional funds that they can put into upgrading the home before it goes on the market. If that’s the case, then I recommend that you declutter and stage the home as best as possible. That can be done for just a couple hundred dollars.

If you do have money that you’ve allotted for upgrades before you put your house on the market, these are the areas that buyers are responding favorably to:

1. Interior paint. Buyers respond very favorably to recently painted houses. The colors that seem to resonate the most with buyers right now are grays, blues, and whites that give the home a coastal look and feel.

You can use granite remnants to save money when upgrading your kitchen and bathrooms.

2. Updated kitchens and bathrooms. Most of these updates center around cabinetry and countertops. If you have the budget, change out your cabinets for white or white shaker cabinets. Granite countertops are very important to homebuyers. If you go to a local granite place and look for remnants, you can save a lot of money. Not all of the granite in your house has to match; it’s fine if the kitchen and bathrooms have different granite. You can create a nice look and save quite a bit of money by using the available remnants.

3. Update your flooring. If you have it in your budget, change out the flooring. Based on buyer feedback, I recommend installing hardwood floors everywhere that you can. You can also use laminate tile or new vinyls that look like hardwood to save money. It’s also important that you have one flooring surface throughout an entire living area. For example, if you are walking around barefoot downstairs, how many different flooring surfaces will you cross? If there is only one flooring surface before you open a door, buyers will respond positively to that.

It’s important to spend your money wisely. Make sure that your home is staged properly and decluttered first. Then, if you have the budget, go ahead and paint, make kitchen and bathroom upgrades, or update your flooring. Those three updates will get you a higher return than any other updates you could make.

If you have any other questions about preparing your home for the market, just give me a call or send me an email. I would be happy to help you!

Wishing You and Your Family a Happy Holiday Season

Chris@c21CoastalTeam.com (Chris Snow) — Tue, 19 Dec 2017 11:09:00 -0800

Happy holidays from the Century 21 Coastal Team.

Buying a home? Click here to search Northeast FL homes.
Selling a home? Click here to use our FREE home evaluation tool.
Call us at (904)-250-0805 for a FREE home buying or selling consultation.

The new year is just around the corner. Thank you for an amazing 2017. From all of us here at the Century 21 Coastal Team: merry Christmas and happy holidays. We hope you and your family have a happy and safe holiday season. We’ll see you in 2018. To hear my full holiday message, watch this short video.

Don’t Limit Your Home Search to the MLS

Chris@c21CoastalTeam.com (Chris Snow) — Wed, 29 Nov 2017 11:34:00 -0800

Are you limiting your home search to only homes that are active on the MLS? There are other ways to find homes.

Buying a home? Click here to search Northeast FL homes.
Selling a home? Click here to use our FREE home evaluation tool.
Call us at (904)-250-0805 for a FREE home buying or selling consultation.

Are you limiting your home search to only those active on the MLS?

When we’re working with buyers and we do our initial consultation with them, one of the first things we ask them is, “Are you only interested in homes that are active on the MLS?” Most of the time, they’re not quite sure what we’re asking that question for.

Today, I wanted to share with you the fact that about 20% of all home sales involve homes that have never hit the market. They bypass real estate agents, going straight from buyer to seller and from seller to buyer. We want to show buyers how we can give them access to those homes that aren’t necessarily listed on the MLS.

The question you have to ask yourself if you’re in the market to purchase a home is, “Am I only receiving active updates of properties that are active on the market right now?” The only way to know the answer is to contact the agent who has been sending you the listings and ask whether or not you’re being given access to off-market properties.

20% of all home sales involve homes that have never actually hit the market.

Here’s a quick story on how we were able to give someone access to a home that wasn’t active on the market. The buyer had been looking for months in a certain neighborhood, and nothing that they liked was popping up. They were waiting to see which homesellers were going to put their homes on the active market.

But we didn’t want to wait any longer—since they knew that that was the neighborhood that they wanted to be in, we started knocking on doors of about five or six houses that they’d be interested in purchasing, even though those homes weren’t on the market. We asked the current owner if they would be interested in selling their home to one of our buyers. This is a common service we perform for our buyers to make sure that they’re not limiting their search to just what’s active on the MLS.

If you’ve been looking for homes and are finding it hard to locate the right property, you may want to step back and assess whether or not you’re doing it the right way. Do you have someone helping you create some opportunities where inventory doesn’t exist?

We’d love to answer any questions for you and show you how our team helps people finding properties that aren't active on the market. Feel free to contact us via phone or email any time.

The Holiday Season Can Be a Great Time to Buy in Florida

Chris@c21CoastalTeam.com (Chris Snow) — Thu, 9 Nov 2017 11:29:00 -0800

In Florida, the holidays can be a great time to sell. Here are three reasons why.

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Today’s topic is why fall and winter are great times to buy in Florida. There are three reasons you should consider doing so if you’re a homebuyer:

1. There are fewer buyers in the marketplace. Only serious buyers are out during the holidays and are willing to make a move during the holiday and school seasons. The reason why fewer buyers is a good thing is that it means less competition and less opportunity for multiple offer situations.

2. Sellers who still have their houses on the market during this time are serious about selling. Traditionally, the sellers that aren’t pushed or motivated to sell will take their homes off the market during the holidays and early parts of the year and look to put their house back on the market during the springtime. That opens up a great opportunity from a buyer’s perspective to know which sellers are serious about selling and which ones would merely like to sell.

Only serious buyers are out during the holidays and are willing to make a move during the holiday and school seasons.

3. Sellers are more motivated, which means they’re also more flexible in price. This won’t be the case every time, but a majority of the time you’ll find that those sellers want to get out of their home by a certain deadline, and they can’t waste any days not being on the market.

These reasons are why being in the marketplace as a buyer during the fall and winter months is a great time to pick up houses for a little bit better price, compared to waiting until the springtime.

If you have any questions, please feel free to contact me. We’d be more than happy to answer those for you. If you found this helpful, you’re encouraged to pass it along so that we can also help your friends and family.

What Does the Market Look Like in 3 Local Counties?

Chris@c21CoastalTeam.com (Chris Snow) — Tue, 17 Oct 2017 10:59:00 -0700

Today I want to give you a quick look at some market statistics for the counties of Duval, Clay, and St. Johns. Right now, all of these markets are very strong.

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Today, I’d like to take a moment to share the market trends for Duval County, Clay County, and St. Johns County.

First, let’s talk about St. Johns County. St. Johns is actually one of the fastest-growing counties in the country, and the data I’d like to share with you definitely supports that. The average list price in St. Johns is up from last year, when it was $556,000. This year, the average list price is $559,000. This isn’t a huge change, but is definitely worth knowing.

The average sales price is also up. This year, it’s sitting at $375,100 compared to last year’s average sale price of $372,900. However, the average days on market is down. In 2016 that number was 97 days. This year, the average is 92 days on market.

Ultimately, the overall strength of the market largely comes down to how many months of inventory there are. This is calculated by how long it would take the market to deplete if no new homes were to come on the market. Anything less than six months is a seller’s market while anything more than six months is a buyer’s market.

Currently, the absorption rate in St. Johns County is down to 4.68% from last year’s absorption rate of 5.14%.

All three of these counties have very strong markets with less than six months of inventory.

Next, I want to move on to Duval County. Duval County also has a strong market, and has had a lot of activity this year. The average list price this year is at $339,077. This is up from $306,000 in 2016. There has also been an increase in the average sales price. This year, the average sales price is at $226,200. Last year, the average was $208,700. This is nearly a 9% increase.

Duval County’s days on market have decreased. In 2016, homes spent an average of 72 days on market. Today, the average is 66 days. In terms of inventory, Duval County currently has three months of supply. Last year, we were at almost four months of supply.

The last area I want to go over today is Clay County. This county has also seen a lot of activity over the last 12 months. The average list price is up in Clay County from $260,000 in 2016 to $291,000 this year. The average sales price has gone up as well, actually rising by 11%. The average this year is $226,889. This time last year, the average was $204,000.

Like the other two counties we discussed, Clay County’s average days on market has also decreased. In 2016 properties spent an average of 82 days. Now, the average days on market is down to 68 days. But, what about inventory?

Last year in Clay County, there were just over four months of inventory. Today, there are just 2.79 months of inventory. This signals a very strong market.

With all three of these counties having very strong markets with less than six months of inventory, we are able to see a good overview of what’s going on. However, the numbers I’ve talked about today are on a larger scale than what might be applicable to your area.

If you have specific questions about your neighborhood or area, feel free to get in touch and let me pull a more specific report for your situation.

4 Ways to Win Your Dream Home in This Hot Market

Chris@c21CoastalTeam.com (Chris Snow) — Wed, 4 Oct 2017 12:07:00 -0700

What can you do to get your offer accepted in this hot market? I have four tips to share with you today.

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Call us at (904)-250-0805 for a FREE home buying or selling consultation.

How can you get your offer accepted in a hot market like ours? I have four points to share with you today.

1. Make sure that you are the first one to know that the house is on the market. How quickly are you getting access to properties as they come on the market? It’s important to be the first to know so that you can get your offer in before anyone else gets a chance.

2. Once you’ve decided to make an offer, you’re going to want all the data on the home at your fingertips. How many days has the home been on market? When was the last time it went through a price reduction? What is the average list-to-sales-price ratio in the neighborhood? What does the supply and demand look like? How many houses are selling in that neighborhood on a regular basis? These are important questions to ask so that you’ll know how to craft your offer.

Work with an experienced agent who can help you with the other three steps.

3. What negotiating tools are at your disposal? Are you in a multiple offer situation? In our market, multiple offer situations are becoming more and more common. We create an escalatory addendum that rides alongside your offer. Basically, the addendum states that you are willing to go a little above and beyond the competing offers, which will make your offer stand out to the seller.

4. Make sure you’re working with an experienced agent. A good agent will have the technology to make sure that you’re the first one who knows the property is for sale. They will be able to give you all of the stats from the neighborhood, and they will have great negotiating tools at your disposal.

Hopefully, these four tips will help you get your offer accepted in this hot market.

If you have any more questions, just give us a call or send us an email. We would be happy to help you!

These 4 Questions Are Key to Finding the Right Agent

Chris@c21CoastalTeam.com (Chris Snow) — Thu, 14 Sep 2017 07:37:00 -0700

Today, I’ve got four key questions that can help you determine whether you’ve found the right agent.

Buying a home? Click here to search Northeast FL homes.
Selling a home? Click here to use our FREE home evaluation tool.
Call us at (904)-250-0805 for a FREE home buying or selling consultation.

Before you can find the right home, you have to choose the right buyer’s agent. Getting professional help before moving forward with any real estate decision is absolutely essential.

Today, I’ve got four questions that can help you determine whether an agent is right for you.

The right agent should hold themselves accountable at every step.

Is the agent full or part-time? A full-time agent will always be the best choice. Full-time agents are constantly looking at the market, and are in a position to react as quickly as the market moves. Part-time agents simply can’t achieve this kind of commitment.
What type of technology is the agent using? Technology helps to make everything simpler. Technology makes the process of finding the right home, going under contract, and exchanging documents so much easier. An agent with access to the best technology possible is going to be greatly helpful.
How successful has the agent been in the past? Getting an idea of how an agent has performed previously will be a good indicator of the future. Ask an agent about the number of negotiations they’ve been successful in, for example.
How do they hold themselves accountable? It’s important to determine whether an agent will be there for you at every point of the process. You want to make sure that an agent will not only be accountable to their commitment while showing you houses, but will also help you throughout closing, as well. One of the things my team has done for our buyers is to hold ourselves accountable at every step. If a buyer is unhappy within the 24 months after closing, we will come back and sell the home for free.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The Key to Making a Strong Offer

Chris@c21CoastalTeam.com (Chris Snow) — Thu, 24 Aug 2017 08:03:00 -0700

Once you’ve found a home you like, how do you go about the process of making an offer?
Today, I’ve got a few key tips

Buying a home? Click here to search Northeast FL homes.
Selling a home? Click here to use our FREE home evaluation tool.
Call us at (904)-250-0805 for a FREE home buying or selling consultation.

So, you’ve found the right home. Once you’ve looked around and found a property you like, how do you go about making an offer?

This is an extremely common question. This is why people look to experts like myself for the answer.

There are a few different things we need to think about.

First, how long has the home been on the market? This can make a lot of difference. Sellers will tend to be less flexible with a listing that is brand new. However, if a listing has been sitting on the market for a while, you might have more power behind your negotiations.

Next, you should find out when the last price reduction was. Knowing this can give you an idea of the seller’s motivation. If the price has just been reduced, a seller may be less likely to reduce it again so quickly.

Having and understanding key information will help you craft a good offer.

The third question to ask yourself is, how much recent activity has the competition had? How many recent or pending sales are currently in the neighborhood? By understanding the position of the competition, you’ll be better able to assess how to approach the property you’re looking at.

Taking into account these three points, you will then be able to move forward with crafting an offer. At this point, you should have the information you’ll need to make a reasonable offer that will be attractive to the seller.

Having and understanding key information will help you craft a good offer.

Ultimately, though, the offer is up to you. We give our clients all the data and guidance they want or need, but we will always allow you to make the offer you deem fit.

We’d be more than happy to discuss our strategies and how we can help you make the best offer possible.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

How to Craft the Perfect Offer for a Home

Chris@c21CoastalTeam.com (Chris Snow) — Mon, 7 Aug 2017 13:24:00 -0700

Once you finally find a home, how do you craft a strong offer?
I have a few strategies for you today.

Buying a home? Click here to search Northeast FL homes.
Selling a home? Click here to use our FREE home evaluation tool.
Call us at (904)-250-0805 for a FREE home buying or selling consultation.

Once you find the right house, what kind of offer should you make?

There are a couple of things you should consider.

First of all, look at how long the house has been on the market. If the house just hit the market, the seller won’t be as flexible. So, is the house you want a brand-new listing or has it sat on the market for a little while?

After determining the days on market, you need to find out when the last price reduction was. Again, this will give an idea of how motivated the seller is. If the home has been on the market for a little while and they just reduced the price, we need to determine whether or not the seller will be open to another price reduction in an offer.

Pay attention to when the last price reduction was.

One of the most important things we look at is the recent sales and pending ssales in that neighborhood. We’ll also look at similar homes competing against the one you like and see what they are priced at.

We’ll look at all three of those factors in order to craft an offer that meets what the market says about that property.

Ultimately, the amount you offer is up to you. We’ll give you all the data but at the end of the day, you’re the only one who knows what you’re comfortable offering for the home.

We do have a number of strategies for pricing properties and crafting offers. These three are the most common. If you would like to learn more about our other strategies or if you have any other questions, just give us a call or send us an email. We would be happy to help you!

How to Purchase and Sell a Home at the Same Time

Chris@c21CoastalTeam.com (Chris Snow) — Thu, 27 Jul 2017 07:45:00 -0700

What happens when you have to buy and sell a house at the same time?
We have a few tips to help you successfully juggle both transactions.

How do you buy and sell a home at the same time?

Do you buy your next home first, or do you put your current home on the market? Some people may want to sell their current home, but only if there is something better available on the market.

No matter your situation, there are a few things you need to do when buying and selling at the same time.

First of all, make sure that you’re working with a professional Realtor. You should work with someone who helps homeowners buy and sell at the same time on a regular basis.

Secondly, your contract needs to be set up properly from the start. If there is a mistake at the beginning, you won’t be successful in the end. When that happens, you may be left without a home for a couple days or fail to close on the new house.

A real estate team will be able to monitor your transactions better.

Finally, make sure that you work with a real estate team, not just an individual Realtor. When you work with a team, there is a dedicated person to monitor both of your transactions. They will keep track of everything involving the title company, the lender, and the seller’s agent. We have a specialized team that puts these deals together on a regular basis so there won’t be any gaps while you move in and out of properties.

Keep in mind that in some markets it’s better to put your home on the market before finding a new one, while in other markets you should find your next home before listing your current one.

If you have any questions about this process, just give us a call or send us an email. We would be happy to find a plan that works best for you.

The Top Mistakes to Avoid When Hiring a Listing Agent

Chris@c21CoastalTeam.com (Chris Snow) — Wed, 12 Jul 2017 08:47:00 -0700

How can you make sure that you hire the best agent to sell your home?
Avoid this major mistake most sellers make.

If you are thinking about selling your home, there are a few things you should know in order to hire the right listing agent.

One of the biggest mistakes I see sellers make is focusing on the price the agent says they can sell the home for. Many sellers also put too much focus on the commission that an agent will charge.

Although these two factors are important, there is a lot more that goes into selling your home. Obviously, sales price and commission impact how much money you net at the end of the day, but there are a few other things to consider when interviewing that agent.

First of all, what is the agent’s history? How much success have they had selling homes? Are they a new agent? Do they only sell a few homes a year?

You should also look at how often they will communicate with you throughout the process. According to the National Association of Realtors, the chief complaint buyers and sellers make against real estate agents is a lack of communication. Ask the agent what their plan is to keep you in the loop during the transaction.

Your agent should have a written, proven marketing strategy.

Next, ask about the agent’s marketing plan. If their only plan is to put your home on the MLS, that’s probably not the best agent for you to work with. There is a lot more that goes into marketing a home, so look for an agent with a full marketing plan that can be outlined in writing.

Again, don’t just focus on the price the agent claims they can sell your home for. If an agent does give you a value, make sure that they have comparable sales to support that number. If there aren’t any, then the agent is probably trying to buy your listing.

When this happens, the agent tells you a high price to make you feel good about your home. Then, over the next three to six months, the agent will beat you up on price every week because the house isn’t selling.

The reason that strategy is not in your best interest is that the longer a house stays on the market, the lower your offers will be. Ultimately, if your home isn’t priced appropriately in the first 30 days, the market will reject the price and you will sell your home for less money than you should have.

Finally, remember that a low commission rate doesn’t always get you the best value. Look for an agent who will offer you different commission plans. That way, you can pick the one that best fits your budget and gives you the most amount of service.

If you have any other questions about hiring a listing agent or selling a home, just give me a call or send me an email. I would be happy to help you!

Should You Get Your Home Appraised Before You List It?

Chris@c21CoastalTeam.com (Chris Snow) — Wed, 28 Jun 2017 09:47:00 -0700

A common question I’m asked is, “Should I get my home appraised?” Today I’ve laid out of the pros and cons of getting an appraisal up front.

There are many sellers out there who are preparing their homes for the market, and they ask me, “Should I get my home appraised before I list it?” I have a list of pros and cons to help you make that decision.

First, what is an appraisal? An appraisal is a third-party opinion of the value of the property and is coming from a certified appraiser— a licensed professional who comes out and takes any sales that have happened in the last 12 months in a certain area. They then also make adjustments for bedrooms, bathrooms, and any other unique features to the house.

The typical cost of an appraisal is between $300 and $500, depending on the complexity of the appraisal. One way an appraisal can become complex is if it’s a brand new construction home. They’ll certify it one way if it isn’t a resale, but if it is, they’ll certify the value a different way.

The typical cost of an appraisal is going to be between $300 and $500.

A key benefit to getting the appraisal done up front is that it can let you know a price point where you can start marketing your property. Then you won’t have an issue on the back side when it goes under contract and you already know what it could appraise for.

Another benefit is appraisals remove some risk for the buyer when done up front. Buyers feel more comfortable that the value can be proven when looking at the home.

The downside of having an appraisal done up front is that it only proves the value of your home on paper. It doesn’t take into account what someone is actually willing to pay for your property, or how the market will be when you list your home.

A lot of times we find that the market value and the appraised value never match one another, so you’re taking a risk—and maybe even setting yourself up for failure if your appraised value is much higher than what the market is willing to pay.

If you have any questions about this or any other real estate topic, or you’re looking to buy or sell a home, please give me a call. I’d be happy to help!

Questions to Answer When Considering a Price Reduction

Chris@c21CoastalTeam.com (Chris Snow) — Wed, 24 May 2017 09:08:00 -0700

Price reductions aren’t always necessary. Sometimes you just need better marketing or the home needs to be in better condition.

The conversation of “Is it time to drop the price of my home?” is one we have quite frequently with our sellers. When they see their home sit on the market for longer than others, it’s a question every seller inevitably has.

Part of this conversation revolves around the current price, while the rest of it revolves around the property’s condition, as well as where the property is being marketed. Those are the three main influences for us. Before we get into price reductions, let’s talk about the home’s marketing and condition.

We always ask our clients the questions that get to the heart of their home’s marketing; things like what websites the home is being marketed on and which social media platforms you are utilizing tell us whether you’re getting a wide variety of exposure.

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Part of this conversation revolves around the home’s condition.

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The home’s condition plays a huge role in any of these discussions. Professional photos are a must-have, and they need to show the property in its best possible light. After that, it’s all about getting the home show-ready.

After we’ve looked at condition and exposure but before we’ve made a price reduction, we want to take a look at the showings that the property has been getting. If there have been a lot of showings, we know we are priced within the realm of possibility. However, if we aren’t getting any offers, we will typically do a 1% to 3% price reduction to give the buyer an incentive to move on the property. If we aren’t getting any showings but we’re getting a lot of views online, that’s when we know we will need to make anywhere from a 5% to 10% reduction in price.

If you have any questions for us at all, don’t hesitate to reach out by phone or email. We look forward to hearing from you.

How Do You Know If You Found the Right House?

Chris@c21CoastalTeam.com (Chris Snow) — Wed, 3 May 2017 12:48:00 -0700

When you're looking for a home to buy, how do you know which one is the best fit? There are three ways to tell.

There are three surefire ways to know you've found the right home:

1. Find the neighborhood that fits your needs: It should match up with what you're looking for. I always say that the right home in the wrong neighborhood is still the wrong home. Try spending a little time before or after the home showing in the neighborhood to make sure it has all the things you're looking for.

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If the floor plan doesn't fit your lifestyle, it's not the right house for you.

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2. The floor plan fits: It can show well and have a lot of the amenities you're looking for, but if the floor plan doesn't fit your lifestyle, it's not the right house for you. You should walk through and try to see yourself living there.

3. Rank the house from one to 10: This is an unscientific, informal way to look at things, but I like to have a ranking system with one being "Why did you bring me to this house?" to 10 being "I'm ready to move in tomorrow!" If you rank the home anywhere above seven, it's likely you've found a strong house.

If you have any other questions about deciding on the right home, don't hesitate to give us a call or send us an email. We'd love to help you out!

3 Things to Check for When Purchasing a Home

Chris@c21CoastalTeam.com (Chris Snow) — Tue, 18 Apr 2017 09:56:00 -0700

Today I’m going over the three things you should never overlook when buying a home.

Buying a home? Click here to search Northeast FL homes.
Selling a home? Click here to use our FREE home evaluation tool.
Call us at (904)-250-0805 for a FREE home buying or selling consultation.

Buying a home is a fun and exciting time, but you want to make sure you don’t let your emotions get the best of you. Even if everything looks perfect and you get a warm feeling about a home, you can’t let that feeling cloud your judgment.

So, what are the three things you should never overlook when buying a home?

1. Resale value. If you’re trying to buy the largest and most expensive home in the neighborhood, you might have trouble getting the value back out of the property. Make sure you consider resale value with any property you’re looking at.

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Always check the windows to see if they need to be replaced.

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2. Potential structural issues or maintenance issues. Mold and moisture show up a lot in Florida, so make sure you’re checking out the ceilings for any moist spots or blemishes. A home inspector will be able to help you locate structural issues, but when you are first looking at the home you should check the door frames for signs of tilting. Tilting door frames to signal structural issues right off the bat.

3. Deferred maintenance issues. What is the age of the roof? When will it need to be replaced? How old is the AC unit? If anything needs to be replaced, you can either ask the seller to replace the items or work the cost of replacing them into your offer price. Make sure you check the windows to see if those need to be replaced as well.

If you have any other questions, please don’t hesitate to give me a call or send me an email. I’m always happy to help!

What Are the 3 Types of Homebuyers?

Chris@c21CoastalTeam.com (Chris Snow) — Wed, 5 Apr 2017 08:59:00 -0700

Today I want to go over the three different types of buyers you can expect to find in today’s market.

With demand so high and inventory so low, it’s safe to say that there are a ton of buyers out there. However, not all buyers are the same. There are actually three different types that I want to go over today.

The first type is the traditional retail buyer. These are people who are looking for a home to live in as their primary residence. Traditional retail buyers have a certain type of property that they are looking for and a list of needs that need to be met. They also typically pay the highest amount for a property because they become emotionally attached. This type makes up the majority of our market.

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Traditional retail buyers make up the majority of our market.

”

Next is the fix and flip buyer. These are people who buy a home in order to renovate it and sell it for a profit. The nice thing about this type of buyer is that they pay with cash and can close quickly. They also buy the home as is and don’t ask for repairs, making the process very simple. If you’re more concerned with the time it will take to sell your home than how much of a profit you’ll make, this is your type of buyer.

The final type is a rental investment buyer. These are people who purchase a home in order to rent it out long term. These buyers can usually pay more than a fix and flip buyer because they are not on a time crunch to resell it. They are mostly concerned with what return they’ll be getting from the rental, so as long as rents in your area look good, they’ll be interested.

If you’re thinking about selling your house this year and would like to know what each type of buyer would pay for your home, give us a call or send us an email. We would be more than happy to go over what those offers would look like!

What Is your Home Really Worth?

Chris@c21CoastalTeam.com (Chris Snow) — Tue, 21 Mar 2017 08:58:00 -0700

What is your home worth? The answer depends on the reason you’re asking the question.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

You’ve probably seen the ads out there that tell you to just enter your address to get an automated estimate of your home’s value. Websites like Zillow have features like this too. You’ve got a few different options out there to get a valuation for your home, but do they truly tell you what it’s worth?

Before you figure out where you’re going to get your valuation from, you have to ask yourself why you are getting it. If it’s purely for informational purposes, any automated system will satisfy that curiosity. They are typically within 5% to 15% of your home’s value. A rough estimate, if you will.

However, if you want something more that you can use to determine a potential sale or refinance, you want to get in touch with a professional Realtor. A third-party site won't be able to give you accurate data. A Realtor can go through the numbers and tell you what to expect from the market.

“

If you just want a rough estimate,
any online tool will do.

”

If you’re thinking about refinancing, a Realtor can help determine if it’s the right move. Any refinance will require an appraisal, so the Realtor can look at your home’s current value and determine what it will appraise for.

A good Realtor can look at the latest market numbers to determine your optimal price. In this case, they aren’t looking at what the home will appraise for; they are looking at what the market will pay for it in today’s environment. It’s based on what homes have sold for, what homes are under contract, and what homes are currently on the market.

If you feel like you need more than just an automated estimate, reach out to a local professional. If you have any questions for us or would like our assistance, don’t hesitate to give us a call or send us an email. We would love to help you out.

The 5 Most Important Things You Need When Buying a Home

Chris@c21CoastalTeam.com (Chris Snow) — Tue, 7 Mar 2017 09:09:00 -0800

Purchasing a home is a process, and here are the five things you need
to ensure that process goes smoothly.

What are the five things you need when purchasing a home?

The first is to know where the money is coming from. If you’re paying cash for the property, that makes things easier because the money is in your account already. If you need to take out a loan, you need a loan approval. If you’re not sure who to get a loan approval from or which lender to work with, reach out to a real estate agent to find out. They typically work with multiple lenders and know each one’s level of service and the rates they provide, so they should be able to provide you with a couple of names to work with.

The second thing you need is money for your earnest money deposit. Once you’ve identified a home you want to purchase and you put a contract on it, your earnest money deposit is a sum that allows the seller to take the home off the market and reserve it for you while you go through the loan and inspection processes. Typically in our area, these deposits range from 1% to 2% of the eventual purchase price.

“

If you’re not sure which lender to
work with, ask your Realtor.

”

The third thing you will need is the down payment. The down payment amount is determined by you and your lender. As you’re interviewing different lenders, you’ll discover what loan programs they have. This amount can range from no money down to 20% down, depending on what your credit situation is and what type of program or rate you want to have.

The fourth thing you will need is an appraisal and home inspection. These are for both you and your lender’s protection. This way, you can ensure the home is in move-in condition and notify the owner of the property of any items that need to be fixed. You’ll need to have the monies for the appraisal, though, because the lender needs to verify that the agreed upon price is valid in the market area and that you’re not overpaying for the home.

The final thing you need is money set aside for your closing costs. Depending on the loan program you choose, your closing costs will range anywhere from 3% and 4% of the purchase price. There are ways you can reduce this amount or shift the closing costs to the seller, but you’ll have to ask your agent about that sooner in the transaction rather than later. If you want seller participation in any closing costs, that needs to be illustrated up front in the initial negotiations.

If you have any questions about this topic, just give me a call or send me an email. I’d be happy to help!

The Benefits of Local Home Search Websites

Chris@c21CoastalTeam.com (Chris Snow) — Mon, 20 Feb 2017 08:52:00 -0800

When searching for a home online, it's always better to use a
local real estate professional's website rather than a big, national site.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

When you're searching for homes, it's better to look to local websites rather than national websites. Why?

National websites tend to focus on a bigger geographic area and the data is not as specific as the data you'd find on a local website put out by a local agent. You'll also find a lot of advertisements on national websites, which is where a majority of their revenue comes from. They also generate revenue by selling your information to third parties.

When you look at local websites, you won't have to put up with advertisements and you don't have to worry about your info getting sold off to any third parties. The information you provide is used by the local agent to contact you and give you whatever information you're looking for.

“

Always search for homes
on a local website

”

The third reason to use local sites rather than a national site is that you get a local real estate professional attached to that website. On our website, for example, you find that we have a lot of neighborhood data already populated in there along with school information. We also break up the information by neighborhood to speed up the process for someone searching for a home in a particular area.

If you have any other questions about the benefits of using a local real estate search website over a national site or you're thinking about buying or selling a home in the northwest Florida area, give me a call or send me an email. I'd be happy to help you.

6 Common Home Selling Pitfalls and How to Avoid Them

Chris@c21CoastalTeam.com (Chris Snow) — Tue, 7 Feb 2017 09:38:00 -0800

As a homebuyer, there are a few things you can do when you make an offer to
get the price that you want. I will go over my top three tips today.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

When you sell your home, there are six things that can sink your sale.

Today, I wanted to give you some tips on how to avoid these six sale sinkers.

1. Don't go it alone. Use a Realtor to help you, because 90% of all home sales take place with a Realtor. Last year, the National Association of Realtors found that homes that were sold 'for sale by owner' sold for an average of $210,000, while homes sold with a Realtor sold for an average of $249,000. Homes sold with a Realtor sell faster, too.

2. When interviewing agents, don't make your decision based on the price they tell you for your home. Instead, ask what they will do to market your home and what kind of pricing strategy they will use.

3. Don't trust the automated values. It's easy to get an automated value from sites like Zillow or Trulia. In many cases, we find that these automated values are either much higher or much lower than the home's true market value. Make sure you get a complete equity evaluation on your property that uses many points of data, not just one set.

“

It's easy to go to Zillow or Trulia, but
you can't trust their automated values.

”

4. Make sure you have professional photos taken of your home. Buyers on the Internet gravitate toward homes with great photos, so don't try to take listing photos of your home with an iPhone. Even if you have to wait an extra week to list your home for the photographer to take their pictures, it's well worth it.

5. Don't ignore your agent's requests to do some fixes to your home, or at minimum, a deep clean of the house. Buyers are very sensitive to a home's presentation, so if you could also stage your home, it would be the best of both worlds.

6. Don't refuse to negotiate. At times, you may receive a really low offer on your home. The best way to handle this is to give a counter offer no matter what, even if it's just $100 off your list price. I say this because you always want to keep things moving forward. When you draw a line in the sand, it takes the opportunity to potentially bring that buyer back into your camp away. When an offer doesn't meet what we're looking for, we tell them 'We really appreciate you taking the time putting the offer together, but unfortunately, it doesn't allow us to exit the property the way we need to, so we'd like to give you a counteroffer back at...'

If you have any questions about these tips, don't hesitate to give me a call or send me an email. I'd be happy to help you.

How to Negotiate as a Home Buyer

Chris@c21CoastalTeam.com (Chris Snow) — Thu, 19 Jan 2017 15:39:00 -0800

As a home buyer, there are a few things you can do when you make an offer to get the price that you want. I will go over my top three tips today.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

When you make an offer on a home, there are a few tricks you can use to get the price that you want.

First of all, put a face with the offer. In real estate, things can get very cut and dry sometimes, and people forget about the human element. In order to put a face with the offer, I recommend writing a letter to the seller explaining who you are, what your situation is, how many people are in your family, and what you love about the house.

There should be an emotional connection between you and the home and between you and the seller. The more the seller knows about you, the better off your offer will be. While considering your offer, the seller will see you as a human being rather than just focusing on the number that is being presented.

“

Establish an emotional connection
with the seller.

”

My second tip is to make sure you write a clean offer to the seller. Make sure to dot your i’s and cross your t’s. The last thing we want is an error in the contract that we have to go back and scratch out or initial. We don’t want to give the seller any reason to pause when looking at your offer.

The cleaner your offer is, the easier we make it for the seller to sign off on it and send it back to us. Remember, time is of the essence in real estate. Any delay gives someone else the opportunity to sneak in and make a competing offer on the home.

Finally, make sure you detail the credentials of the buyer’s agent that you are working with. Listing agents often receive offers from buyer’s agents that are part-time or inexperienced, which creates more work for the listing agent. Make sure that your buyer’s agent has a lot of experience and writes many offers, and let the listing agent know that’s the case. That way, they know your agent will make the transaction as easy as possible and will do their fair share of work to get everyone to the closing table on time.

If you follow these tips, your offer is sure to stand out. If you have any other questions about buying a home or about real estate in general, give me a call or send me an email. I would be happy to help you!

How to Handle Contingent Offers

Chris@c21CoastalTeam.com (Chris Snow) — Mon, 9 Jan 2017 11:34:00 -0800

There are two types of contingent offers. How you handle either one depends on what kind of market you’re in.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

Since our market has been changing the last couple weeks, I’ve seen more and more contingencies out there. What do you need to know about contingent offers? How should you handle them?

There are usually two types of contingencies: contingencies upon the sale of another property and contingencies upon the closing of an existing property.

The first contingency means that the house is either on the market or is about to go on the market, but there is no contract on it. This is a very open-ended contingency because we don’t know how long it could take for that property to sell.

The second contingency means that the property is on the market, it has a contract, and there is a defined closing date. This contingency is a lot more typical in the marketplace. You see this a lot with move-up buyers who have a home to sell and can’t qualify for both mortgages, so they get their house under contract and go find another house, and it’s still contingent on the closing of that property.

“

How to handle a contingency depends on the market you’re in.

”

How you respond to either contingency depends whether you’re in a fast-moving or slow-moving market.

If you’re in a fast-selling market (e.g. houses are selling in 90 days or less), I would not advise that you put yourself in a position to accept a contingent offer upon the sale of another property, but I would advise that you consider a contingency on the close of an existing property.

If you’re in a slow-moving market, you have to weigh factors like how strong the offer is, whether you’re getting terms and conditions that are acceptable, and whether you can define the amount of time you’d give the buyer to sell their property. A good amount of time would be 30 to 45 days to get their house under contract. If they’re giving you a good price, then it’s something you should strongly consider.

If you have any further questions about contingencies or have a topic in mind you’d like me to address in the future, please feel free to email me or give me a call. I look forward to hearing from you!

How to Respond to Early Offers

Chris@c21CoastalTeam.com (Chris Snow) — Tue, 27 Dec 2016 09:16:00 -0800

If your home is for sale and you receive early offers, do you know the best way to handle them? Your best course of action depends on what kind of market your neighborhood is currently in.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

If your home is for sale and you receive early offers, how should you handle them?

You want to start by identifying whether you're in a buyer's market or a seller's market. Certain neighborhoods have a lot of inventory and are in a buyer's market, while some have low inventory and a lot of people wanting to move in, creating a seller's market.

If you're in a buyer's market, you want to respond to the offers as quickly as possible and keep the buyers engaged; we don't want them moving on to the next property. If you're in more of a seller's market, we will sometimes say that no offer should be accepted in the first seven days.

Also keep in mind your motivation to sell. Are you in a time crunch? Do you have a pending relocation? Do you have another property that you've bought and need to close on?

These are the things you'll need to weigh as you receive early offers. If you are highly motivated to sell, you want to respond as soon as possible to keep that buyer engaged and moving forward.

“

Identifying the state of your market can guide your decision making.

”

If you have no time constraints or anything pushing you to sell right away, you can draw it out a bit and see if you can get some additional offers. You also need to consider whether the buyer who put in an offer has a certain time period for response in their contract.

If you're currently on the market or you plan to sell a house in the future, this information should help you decide the right course of action for your situation. If you have any questions, please don't hesitate to call or email me. I'd be happy to help you out.

A Special Holiday Greeting

Chris@c21CoastalTeam.com (Chris Snow) — Mon, 19 Dec 2016 15:36:00 -0800

The holidays are such a busy time. However, we didn’t forget about your support this year and we wanted to thank you for it.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

I wanted to take just a moment out of my busy holiday schedule to wish you and your family a merry Christmas and a happy holiday season.

This is one of my favorite times of the year to reflect on the past year and what has happened. Hopefully you get a chance to spend some time with family and friends, as well.

We appreciate everything you’ve done for us and we appreciate you keeping up with our videos and blog posts. We look forward to bringing you even more helpful content in the new year.

If you have any questions for me in the meantime, I’m always just a phone call or email away. Happy Holidays!

Why Is Winter a Great Time to Buy or Sell a Home?

Chris@c21CoastalTeam.com (Chris Snow) — Fri, 9 Dec 2016 11:49:00 -0800

Winter is a great time to buy or sell a home. While most buyers and sellers wait until
spring to enter the market, there are a few unique benefits you can reap from the winter
real estate market.

Looking to sell your home? Click here to use our home evaluation tool. Looking to buy a home? Click here to search all Coastal Florida homes for sale.

Lately, a lot of sellers have asked me about waiting for spring or summer to put their houses on the market. Today, I thought I would let you know that winter is actually a great time to buy or sell a home.

For sellers, waiting until spring to put your home on the market may not be in your best financial interest. Why? Everyone else will wait until spring or summer, so if you wait along with them, there will be more houses for sale, more inventory for buyers to choose from, and more competition for you. If you put your home on the market now, there will be fewer sellers for you to compete against.

“

Get ahead of the competition
by entering the winter market.

”

If you’re a buyer, it might not be in your best interest to wait for the spring inventory. You actually have a great opportunity to purchase a home during the winter. Winter and holiday sellers are highly motivated. The more motivated the seller is, the more flexible you can be on price.

If you have any other questions about buying or selling in the winter, give me a call or send me an email. I would be happy to discuss your options. I look forward to hearing from you!