Tampa Bay Real Estate Podcast with Karen and Joe Donovan

Does the Buyer or the Seller Pay an Agent’s Commission?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Tue, 19 Feb 2019 12:28:00 -0800

We’re back for another edition of “You’ve Got Questions, We’ve Got Answers.” Today’s question is: Who pays the commission in a real estate transaction?

Many buyer’s agents lead people to believe that because the seller is offering the commission amount, the seller is paying the commission. Then, the listing agent says that because the buyer is bringing the money to the table, it’s really them that is paying the commission. So, which one is it really?

If you think of a transaction as a pie, there’s a sliver of that pie that goes to the listing agent and listing company. There’s also a sliver that goes to the buyer’s agent and the buyer’s broker. That money comes funded from the transaction of the sale, so it ends up being the buyer who is actually paying for it.

In effect, the buyer who brings the money to the table exchanges money for the property and that's where the commission comes from. However, the seller does technically offer the amount to the agent who brings the buyer, so it’s a little bit of both.

If you have any other questions, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

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What to Do If Your Home Failed to Sell

donovanhomes@yahoo.com (Karen and Joe Donovan) — Fri, 25 Jan 2019 12:33:00 -0800

Welcome to our latest series, “You’ve Got Questions, We’ve Got Answers.” The question we’re answering today is this: “My house was on the market before. It didn’t sell. What should I do?”

Hire us. Seriously. If your home was on the market and didn’t sell, there are several possible causes. The most likely is that you hired the wrong agent, hired the wrong company, or the price wasn’t right.

If you want to avoid the same mistake, you need to correct those mistakes. To price your home correctly, you'll need to work with an agent who knows what they're doing and is backed by a company that supports them. They will also need to be aware of where the market is at and where it's headed in the future. Very rarely does a market remain at equilibrium for an extended period of time.

Recently, interest rates have gone up. When that happens, the number of buyers goes down and so do the prices of homes. It also causes homes not to sell.

When the market goes down, so should your asking price. The gap between your home's price and where the market is at needs to be minimal. Pricing at market value should allow you to get a buyer within 30 days. If that doesn't turn out to be the case, you seriously need to reconsider your options. You have to react to the market, the market is not going to react to you.

If you have any questions for us or want to know exactly what your home is worth in this current market, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

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A Holiday Message to You

donovanhomes@yahoo.com (Karen and Joe Donovan) — Tue, 18 Dec 2018 09:57:00 -0800

"Where we love is home - home that our feet may leave, but not our hearts." Oliver Wendell Holmes, Sr.

Our original song this year is: "Home Is In Your Heart" It begins - "Thinking of YOU at this time of year, it brings back memories that we hold so dear...." This song contains some special pictures of homes close to the hearts of people we helped this year and the sentiments that fill homes and hearts of people everywhere! Please take a look and a listen and feel free to share with those who are close to your heart!

Enjoy! Warm Wishes - Joe & Karen

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Happy Thanksgiving From the Donovans

donovanhomes@yahoo.com (Karen and Joe Donovan) — Fri, 9 Nov 2018 12:11:00 -0800

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At this time of year, we think about how much we have to be grateful for. Thanksgiving is a time to give, a time to love, and a time to reflect on things that mean the most in your life. This Thanksgiving, we are especially treasuring the weeks, hours, and minutes of time that we are able to spend with those that we care about. To all of our family, friends, neighbors, clients, and co-workers: We wish you a truly beautiful and bountiful Thanksgiving. We wrote a song called “You Are” that we think fits perfectly this time of year.

Got a Cell Phone You No Longer Use? Here Are 5 Ways to Repurpose It

donovanhomes@yahoo.com (Karen and Joe Donovan) — Mon, 8 Oct 2018 11:32:00 -0700

Do you have an old cell phone you’re no longer using? Today I’ll be sharing five easy ways to repurpose it.

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Do you have an old phone you no longer use? If so, don’t just throw it out. Besides simply trading it in, there are many other ways you can put old pieces of technology to good use.

Today we’ll be sharing five clever ways you can repurpose an old cell phone:

Use it as a glorified alarm clock. Even after you remove the SIM card, most cell phones still have the capacity to connect to Wi-Fi. So, using that Wi-Fi connection, there are two alarm clock apps I recommend for those who need a little extra help getting up in the morning. The first is called “CARROT Alarm” and the second is “Pzizz.”
Use it as an E-reader. Old cell phones can easily be used to read e-books or listen to audiobooks through platforms like Audible.
Use it for home security. There are a number of cool apps that will help you monitor your house while you’re away. Whether you want to keep an eye on your pets, your front door, or your baby’s room, an old cell phone can be an easy and inexpensive security solution.
Use it as a backup. Keeping your old cell phone charged and in a convenient place could save you a lot of trouble in case your current phone stops working. Having a backup phone can be very useful in a pinch.
Donate it. There are a number of charities that refurbish and distribute old cell phones to those in need.

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.

Don't Let Cigarette Odors Cause Your Home Sale to Go up in Smoke

donovanhomes@yahoo.com (Karen and Joe Donovan) — Tue, 4 Sep 2018 11:06:00 -0700

If you smoke cigarettes in your home, the odors this habit leaves behind could cause your home sale to go up in smoke. Thankfully, there are three cleaning tips that can help alleviate this issue.

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If you’re a cigarette smoker, you may have become smell-blind to the odors this habit can leave behind in your home. This can pose a big problem when it comes time to sell, because non-smoking buyers are sure to notice this residual aroma.

To make sure cigarette odors don’t cause your home sale to go up in smoke, there are three key tips you should follow when you list:

Have a full professional cleaning of your heating and cooling system. Cigarette smoke will get trapped in your home’s HVAC unit itself, so simply changing out the air filter won’t be enough if you hope to rid your house of odors. Having a professional clean the ductwork, and the unit itself, will be your ticket to fresh-smelling air.
Seal and repaint your walls and ceilings. Your home's walls and ceilings can trap unpleasant smelling nicotine particles, and painting alone won’t be enough to undo this effect. Instead, seal your walls first with a primer (like Kilz) and then add your fresh coat of paint after that.
Launder or steam clean cloth items, carpet, and furniture in your home. Your drapes, chairs, couches, carpet, and more will all absorb the smell of cigarette smoke over time. Giving each of these items a thorough, professional cleaning will give a huge boost to your home’s overall freshness.

As a bonus tip: Wipe down flat surfaces, knick-knacks, and light bulbs in your home. You may be surprised to learn that these items can contribute to how your home smells, but the difference that cleaning these things can make will speak for itself.

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 Can You Protect Yourself Against Home Repair Fraud?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Thu, 16 Aug 2018 09:03:00 -0700

If you don’t want to fall prey to home repair fraud, there are three common red flags you need to watch out for.

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Whether you’re facing a summer hurricane or a winter storm, we homeowners all have to deal with damage being done to the exterior of our homes at some point in our lives. In today’s episode of “Keeping In Tune With the Market,” I want to share a story about home repair fraud that happened to a client of mine and give you a few tips on how to prevent the same thing from happening to you.

This client was an elderly lady whose roof was damaged in a storm. When a roofer came by and offered to fix the damage for a ridiculously low price, she of course agreed and signed a contract. In return, her insurance company gave her a check that was written out to both her and the roofer. She signed the check over to the roofer, but she never got her roof fixed.

To prevent this kind of home repair fraud from happening to you, there are three red flags you need to watch out for.

First, if a contractor comes into your neighborhood and makes a “now-or-never” offer to make a repair at a reduced price while they’re in the area, don’t fall for it.

Second, if you hire a contractor to make a repair on your home and your insurance company issues a check that’s written out to the both of you, don’t sign the check over to the contractor until the repair has been made and it’s been inspected by another licensed contractor.

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Don’t sign your insurance carrier’s check over to the contractor until the repair has been made.

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Third, if the contractor had materials they needed for your job, make sure they show you a paid receipt for those materials so you don’t get stuck with a lien on your house because they took off and took your money without paying for them.

If you have any questions about this topic or you have any other real estate needs I can help you with, feel free to call or email me anytime. I’d be happy to help you.

As always, remember to keep in tune with the market. Until next time, make it a great day!

Let's Compare the Benefits and Drawbacks of Furnished and Unfurnished Listings

donovanhomes@yahoo.com (Karen and Joe Donovan) — Fri, 22 Jun 2018 09:16:00 -0700

Is it better to sell your home furnished or unfurnished? Today we will get to the bottom of this key question.

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Today’s question comes from one of our viewers, Kathy O’Shea, who asks: “Should you sell your home furnished or unfurnished?”

Kathy happened to have the option of moving her furniture with her when she transitioned into her new home, but not all of us have this luxury. Therefore, many sellers have no choice but to show their home with their furniture still inside.

But which is the better option, and what are some of the benefits of each?

First of all, leaving your home furnished while it’s on the market can help buyers visualize how they might decorate a room. You can also rearrange your furniture for optimal staging, if removing your furniture is not an option or is something you prefer not to do.

However, sellers who plan to leave their home furnished while selling must be sure to declutter before letting buyers into their property. Furniture that takes up too much room can make spaces look much smaller. And this brings me to the benefits of selling your home unfurnished.

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Leaving your home furnished while it’s on the market can help buyers visualize how they might decorate a room

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One of the main benefits of showing your home without any furniture inside is that it gives buyers the chance to see your home’s true space. Rooms will look very large and open, and people with good imaginations will have no trouble imagining them full of furniture.

That said, statistics show that homes staged with furniture do tend to sell more quickly and for a slightly higher price. But don’t worry if you have to sell unfurnished. You can still sell in good time and for a good price without furniture in your home.

If you have any other questions, would like more information, or are curious how we can help you buy a new home or sell your current one, feel free to give us a call or send us an email. We look forward to hearing from you soon.

What Can You Do to Improve Your Home’s Interior Without Breaking the Bank?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Mon, 14 May 2018 10:52:00 -0700

Where can you get the best return on interior home improvements?
Here are a few good options.

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Welcome back to another episode of “Keeping in Tune With the Market,” where we bring you relevant real estate information to help you keep in tune with the market.

We’re on the road again with part two of our series on how to make your home show like a model without breaking the bank. In part one, we talked about how to fix up your home’s exterior. Today we’re going to focus on the interior of the house, and the rooms where you'll get the best return on investment.

According to Angie’s List, kitchens and bathrooms bring the highest return on investment. Whether you’re thinking of selling now or later, it’s a good idea to consider some improvements in these areas. You don’t have to do a full kitchen remodel and spend tens of thousands of dollars. You can spend money without breaking the bank by doing things such as:

Changing out the countertops
Changing the cabinet handles
Updating your lighting

The second area to consider is the bathroom. Old fixtures, faucets, sinks, toilets, and vanities can be replaced to give the room a whole new look.

If you'd like further information about how you can improve the inside of your home to get the highest return on investment without breaking the bank, give us a call or send us an email. We’d be glad to send you a copy of our free report.

In the meantime, if you have any questions, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

How Can You Transform Your Home From the Outside?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Fri, 23 Mar 2018 11:53:00 -0700

The goal of every home seller is to sell for the most money possible. Here’s how you can start working towards that from the outside of the home.

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Welcome back to another episode of “Keeping in Tune With the Market.” Today we’re going to begin a series where we will be talking about how to make your house show like a model home without breaking the bank. As the sale signs pop up around town, we start to notice all the beautiful houses for sale. The ones with good curb appeal, at least. Having great curb appeal is the best way to make your house look like a model home without breaking the bank. Make sure that these three things are taken care of:

Having great curb appeal is the best way to make your house look great.

1. Any unkempt shrubbery or stray weeds should be gotten rid of. 2. Your lawn should be well-maintained and your walkway clearly visible for potential buyers. 3. A front door that’s worthy of your home. Install a new doorknob or add a fresh coat of paint. Next time, we’ll be discussing some interior fixes that you can make to help your home show even better. In the meantime, text “Show like a model” to (516) 822-1222 if you want me to send you more tips to help you get your home ready. If you have any other questions or are thinking about buying or selling a home, feel free to reach out anytime. I would be happy to help you!

5 Terms You Need to Know as a Homebuyer

donovanhomes@yahoo.com (Karen and Joe Donovan) — Fri, 16 Feb 2018 12:23:00 -0800

If you’re a first-time homebuyer, you need to know these five terms before you begin the process.

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We’re back again for another episode of Keeping in Tune With the Market. Today we’re going to discuss the five terms that first-time homebuyers need to know before going to look at their first house to make sure they are fully prepared: 1. Pre-approval. What’s the difference between a pre-approval and a pre-qualification? A pre-qualification is pretty informal and can be done over the phone. It’s more of a first-step type of thing. A pre-approval, on the other hand, will get you pretty close to the finish line as far as your loan is concerned. It’s more of a concrete step that takes all of your financial information into account and lets you know exactly how much you can afford. 2. FHA mortgage. FHA stands for the Federal Housing Authority. This is a federally backed loan that only requires buyers to put down 3.5% for their down payment. With a conventional mortgage, you need 10% to 20% down. If you don’t have a lot of money or a lot of credit, it still allows you to lock in an interest rate and buy a home.

These are five good terms to start with.

3. Down payment. A down payment is the earnest money that a seller gets from a buyer when they sign the contract. There’s quite a range on how large a down payment can be. It could be as little as a few thousand dollars, or it could go up to 20% of the purchase price, depending on the type of mortgage you get. This money cannot be removed by the buyer or seller arbitrarily until the sale is closed. 4. Appraisal. Many people don’t really know what an appraisal actually is. An appraisal happens when an authorized appraiser from a third-party source comes out to value the property. They are doing this on the buyer’s behalf to make sure that their lender is taking a good risk for a bad risk. The value they come up with is determined by other comparable sales in the neighborhood as well as the condition and location of the home. 5. Closing costs. We’re almost at the finish line when these come into play. Closing costs can vary greatly, and they might be higher than you’re expecting. However, you can benefit from these closing costs in the long run. They usually come out to be anywhere from 2% to 5% of the total purchase price of the house, but you should have your lender give you a good faith estimate so you know exactly what those costs will be. Although there are a lot more terms you’ll need to know as a first-time homebuyer, these five are good ones to start with. If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

What Happens When the Market Favors Sellers?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Thu, 25 Jan 2018 11:11:00 -0800

What exactly is a seller’s market? Let’s find out.

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What is a seller’s market? This is a question I’m commonly asked, so I’m going to address it today. Contrary to how the name may make it sound, a seller’s market actually means that there are more buyers than sellers. A seller’s market is one that favors sellers. Let me give you an example. Imagine a town with 10,000 households and 300 houses for sale. Not many people move in this town, but there are a couple of new businesses in town, and these businesses are drawing in new employees. All of these buyers are competing over the same 300 houses.

When the market is in the seller’s favor, they can sell quickly and for top dollar.

According to the laws of supply and demand, this sets sellers up for success. When there is a limited supply of a product, the people who are selling it can take advantage of the increased demand. This applies to real estate as well. When the market is in the seller’s favor, they can sell quickly and for top dollar. However, buyers in a seller’s market are not necessarily at a loss. There are some tips and tricks you can use as a buyer to still get a good deal. 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.

Check Out This New Music Video Featuring the Donovan 3

donovanhomes@yahoo.com (Karen and Joe Donovan) — Tue, 19 Dec 2017 10:23:00 -0800

Today, the Donovan 3 are singing their rendition of “Do You Believe in Christmas?”

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We’re almost to the end of the year, and the holiday season is in full swing with happy people everywhere. Here at Donovan Home Sales, there’s something magic in the air. If you hear a song and start to hum along, it may just be the Donovan 3 singing their rendition of “Do You Believe in Christmas?” If you want a reason to get into the holiday spirit and enjoy a catchy, festive tune, go ahead and watch our new music video.

What Is an Inspection Contingency?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Thu, 16 Nov 2017 14:12:00 -0800

Welcome back to another episode of “Keeping in Tune With the Market.” Today’s question is: What is a home inspection contingency and how do I deal with it?

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Welcome back to another episode of “Keeping in Tune With the Market.” Today’s question is: What is a home inspection contingency and how do I deal with it? Imagine you’ve just found a great home or a great buyer for your home, and the time has come for the home inspection. A home inspection is usually done before an offer is made or accepted. A home inspection contingency is an addendum that is placed on a contract that states certain agreed-upon repairs must be completed within a given time frame. After a licensed home inspection company has completed the inspection, which takes about an hour, they will then submit a written report to the buyer. The buyer will turn the report over to the agent, who will then turn it over to the seller. Sometimes, structural or safety issues may be uncovered during the inspection. But it’s important to remember that not every item an inspector puts on the report is urgent. Some issues will just be cosmetic.

Not every item an inspector puts on the report is urgent.

But if there are major repairs, the buyer’s agent is going to make a repair request of the seller. A seller can obtain a second opinion from another professional at this point. Once the buyer and seller are made aware of the items on the inspection report, negotiations can begin. It’s critical that everyone approaches these negotiations reasonably. After everyone is in agreement, the seller must take care of the agreed-upon repairs prior to closing. The seller will need to provide the buyer with written receipts for any and all repairs. There is still the possibility of the contract being canceled by either party if they cannot reach a consensus on a given item. However, if the contract moves forward and all repairs are taken care of, then the inspection contingency will be removed. If a transaction is taking place between a good buyer and a willing seller, it’s best to take care of these issues as soon as possible. Additionally, if you’d like a free copy of our report on how to avoid 11 costly home inspection mistakes, send me a quick email at info@homesbydonovan.com or text me at (727) 595-8880. 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 Path to Orchestrating Your Own Home Sale

donovanhomes@yahoo.com (Karen and Joe Donovan) — Wed, 13 Sep 2017 11:58:00 -0700

If you’re thinking of selling your home on your own, I have some valuable insider tips to help you accomplish this task.

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So the market’s great and you decide to sell your home by yourself. What happens next?

First, you put a sign up, put some ads on the Internet, and away you go. Soon enough, people start driving by your home, knocking on your door, and calling you—even Realtors. Then perhaps you get a buyer that comes by, and they seem pretty serious...until you find out they don’t have any credit and would like you to hold the mortgage.

Then maybe your neighbor knocks on your door and asks if you’ll sell your home at a discount to their children because they don’t have much money.

These situations can be very frustrating, but should you give up on your dream of selling your home all by yourself? No you shouldn’t, because I have three valuable insider tips to help you pull it off without going crazy:

1. Make sure you market your home effectively. Many Realtors place their homes on Realtor.com, Zillow, and the MLS (multiple listing service) for their best results, but successful Realtors also place their homes on about 46 other websites on average. Statistically, over 92% of people start their home search online. You want to make sure your home is seen by the most number of people, so explore other places on the Internet you can advertise your home. You’d be amazed at the amount of traffic you can garner.

Make sure your home is seen by the most number of people.

2. Make sure your buyer is both pre-qualified and pre-approved for a loan. What’s the difference between the two? When someone’s pre-qualified, they’re only asked a few questions by a mortgage broker and based on that information, they’re told what their chances are for getting a loan. With a pre-approval, the buyer has actually made a full loan application and gone through the entire process—including checking their credit, income, tax returns, etc.

3. Remain objective about your home and the home selling process. If the buyer has a few negative comments, don’t get defensive. Try instead to acknowledge them and use that as a stepping point to highlight the positives of your home and how it benefits them.

If you have any questions or you’d like to see the other seven insider tips to help you sell your home on your own, don’t hesitate to give me a call or send me an email. In the meantime, don’t give up and keep in tune with the market. I look forward to hearing from you.

How to Identify and Handle a Stroke

donovanhomes@yahoo.com (Karen and Joe Donovan) — Mon, 7 Aug 2017 11:02:00 -0700

Knowing what to do when you spot a stroke is critical—the right knowledge could save a life.

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I wanted to do something a little different for today’s episode of "Keeping in Tune With the Market." Today, I want to talk about a very serious subject: strokes.

Imagine you’re with family over the holiday season when suddenly you notice a loved one's face beginning to droop on one side—one side of their body appears weak and they’re now slurring their speech.

What do you do? First, it’s time to call 911. These warning signs should never be ignored.

Two weeks ago when my own mother began exhibiting these symptoms, my sisters were thankfully able to recognize the signs and get her immediate medical treatment.

It is critical that people who have had or are having a stroke receive medical attention within the first three hours.

Unfortunately, I have first-hand experience where another family member was not so fortunate. My sister-in-law had a stroke around the same time as my mother. She was out of the town at the time and went to a walk-in clinic where they told her it was probably just her back.

Warning signs should never be ignored.

They sent her home and she suffered a massive stroke. As a result of not receiving prompt and immediate attention, her injuries will be long-term, if not permanent.

You may be wondering why I’ve chosen to talk about this when my usual subjects relate to real estate. The truth is that real estate is about family and home. That’s why today I chose to share this information with you—to protect your family.

The easiest way to spot and handle a stroke is to remember “F.A.S.T.,” which stands for face drooping, arm weakness, speech difficulty, and time to call 911.

Whether it is you or a family member experiencing these symptoms, do not wait. Getting immediate emergency medical treatment is absolutely key.

I hope you and your family stay happy, healthy, and able to enjoy your home.

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.

Property Taxes Can Have a Big Impact on Value

donovanhomes@yahoo.com (Karen and Joe Donovan) — Thu, 29 Jun 2017 12:25:00 -0700

One aspect of home value that buyers and sellers tend to ignore is the property tax bill. It can actually cause huge problems when it comes time to move on.

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In this episode of “Keeping in Tune With the Market,” we’re taking a closer look at property taxes and how they affect home value. We decided on this topic after receiving a great question from Gary, which went like this:

“How do property taxes affect Tampa home values when buying or selling?”

To illustrate our point, we’d like to tell you a true story. This occurred recently with two different homeowners who decided to list their properties. We’ll call them Homeowner One and Homeowner Two. Both of these homeowners owned 3-bedroom, 2-bathroom homes with garages and backyards. However, these homes ended up being very different in the eyes of buyers. Why? They had different property taxes, with Homeowner One’s property having an assessed value that was 25% lower.

How did one homeowner’s property taxes get so much higher? There were a number of factors. Homeowner One had a lower tax rate and millage rate than Homeowner Two because they were in different districts. Homeowner One also kept track of any improvements or updates she made to the home. She was also able to protest her assessment because she had the numbers to back up her arguments. She also made sure to register for a homestead exemption, which further lowered her taxes.

Pay attention to your property taxes.

Homeowner Two was located in a different district where property taxes and the millage rate were a little higher and there was nothing she could have done about that. However, she could have monitored the improvements she made and made sure she was being correctly assessed. After taking a closer look, we found that she was being assessed for a fireplace despite the fact she didn’t have one. She didn’t apply for her homestead exemption either.

What happened when these homes were listed? As you can probably guess, Homeowner One had a quick, profitable sale while Homeowner Two had to languish on the market and eventually reduce the price to get the property sold. The bottom line is that property taxes make a huge difference whether you are buying or selling and you want to be as informed about them as possible if you are a homeowner looking to make a move.

Thanks again to Gary for the question. We’ll be sending you a $25 Panera gift card. Remember, if we answer one of your questions on our videos, we’ll send you a gift card as well.

If you have any other real estate comments, questions, or concerns about the Tampa market in the meantime, give us a call or send us an email.

Who Really Determines a Home’s Value?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Wed, 24 May 2017 13:33:00 -0700

A home’s actual value is determined by two people: the appraiser and the buyer. Here’s why this is.

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When you’re getting ready to buy or sell a home, you often wonder who really determines the actual value of a home and what the sales price will eventually be. There are basically two people who determine the value of a home. The first is the appraiser. The appraiser will look at similar sold properties within the last six to 12 months. If you want to get an idea of what the appraiser will consider, all you need to do is go online and look at similar properties that have sold in the area within a mile or so of where you’re looking and what they sold for. In addition to the appraiser, there is one other person who determines what the final sales price of a home will be. Can you guess who it is?

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The appraiser and the buyer are the two people who determine a home’s value.

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It’s the buyer. The buyer will offer a price for the home based on comparables of other homes currently for sale on the market and what they feel the house is worth to them.

You’ll notice there’s one person I didn’t mention—the seller. While they don’t determine the eventual sales price of the home, they can determine how long the home takes to sell. They do this in two ways. The first is by making sure the condition of the home is optimal. The second is by pricing their home properly in the beginning when they first list it.

We want to thank Gina for sending in her great question. For that, she will receive a $15 gift certificate to Panera’s. If you submit a question and I cover it in one of my future videos, you can also win a $15 gift certificate.

If you want to know more about determining the value of a home or you’d like a market snapshot to help you know the value of a home you’re thinking of buying or selling, give me a call or send me an email. Until next time, stay in tune with the market and make it a great day!

The Role of Attorneys in Our Real Estate Market

donovanhomes@yahoo.com (Karen and Joe Donovan) — Tue, 28 Mar 2017 13:26:00 -0700

What's the role of an attorney in a real estate transaction in the state of Florida? They usually only get involved when issues of legality arise.

Looking to sell your home? Get a FREE home value report
Looking to buy a home? Search all homes on the MLS

In today's episode of the "Keeping in Tune With the Market," I wanted to answer a question about your attorney's role when buying and selling real estate in the Tampa Bay area. In Florida, most buyers and sellers utilize a licensed Realtor to prepare a contract of sale. The form has been pre-approved by the Florida Association of Realtors and Florida Bar Association. The Realtor will fill in the form, which is then signed by the buyer and seller. At that point, we have a fully executed contract. The contract is then submitted to the title company for review so they can do a title search and make sure everything is legal so that a full warranty deed can be transferred from seller to buyer at the closing. That said, there are many times when an attorney needs to get involved, especially if your home is held in a trust or probate or you have legal issues like a divorce.

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Most buyers and sellers utilize a licensed Realtor to prepare a contract of sale.

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If you ever have a question for an attorney, you should absolutely ask it. There's no harm in doing it even after you've gone to contract to make sure you have everything answered.

If you have any questions you'd like me to answer in a future episode of "Keeping in Tune With the Market," just give me a call or send me an email. I'll be sending a $10 Panera gift to Jan for having her questions answered. If you ask a question that I answer in future videos, you'll win a gift card too.

Until then, make it a great day!

Keeping in Tune With the Market: How to Get Your Offer Accepted Without Breaking the Bank

donovanhomes@yahoo.com (Karen and Joe Donovan) — Fri, 17 Feb 2017 12:56:00 -0800

If you’re a homebuyer competing against other offers on the same home, here are three strategies you can use to make your offer stand out.

Looking to sell your home? Get a FREE home value report
Looking to buy a home? Search all homes on the MLS

Today I’m answering a question from Amanda Fabian, who asks, “How do I get my offer accepted when there are four other competing offers on a home?”

First of all, congratulations to Amanda, who will receive a $10 Panera gift card for her question being chosen.

To get your offer accepted when there are other competing offers on the same home, I have three strategies you can use:

1. Make your offer as competitive as you can without going over your budget. If you’re going with a higher financing amount, you must be competitive against someone who might be putting more cash into the deal. Also, make sure you have your pre-approval letter and that you submit it at the same time you put your offer in. Your offer must be as strong as possible.

2. Find out from the other agent or owner what their hot buttons are. In other words, does the owner want a quick closing or do they need extra time? When you structure your offer, make sure to add that in. Does the owner have a special appliance they want to take with them? Stress that the appliance can go with the owner and you don’t insist on having it stay.

3. Write a personal note from the heart. This one is my secret weapon. When you do this, find out a little bit about the owner and share with them some information about your family and how you will love the home as much as they did. If you have a cute little kid or puppy, include pictures of them in the note.

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Your offer must be as strong as possible.

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If you have a real estate question that’s on your mind, don’t hesitate to email it to me. If I answer it in a future video, you’ll receive a $10 gift card. Until next time, make it a great day!

Keeping in Tune With the Market: Why Sell This Winter?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Fri, 3 Feb 2017 12:58:00 -0800

You may have heard that spring and summer are the best times to sell a house, but today, I’m discussing why this winter is a fantastic time to sell your house.

Looking to sell your home? Get a FREE home value report
Looking to buy a home? Search all homes on the MLS

Welcome to my new series, ‘Keeping in Tune With the Market.’ We want to use this series to bring valuable and relevant information to home buyers, sellers, and Realtors alike.

The question we’re answering today comes from Amy Chen who asks, “I thought it was better to sell my house in the spring, but I’ve been told maybe I should consider selling my house in the winter. What do you recommend?’

There are three points I want you to consider about selling your home in the winter:

1. Prices are at or above what we experienced in 2006. The only difference is that we haven’t experienced a housing bubble like then. In fact, we have a very steady market. That’s because of…

2. Lack of inventory. This means as a seller, you’re going to be able to receive a higher price for your house due to greater competition among buyers, multiple offers, and interest rates.

3. Interest rates are very good right now. Even though rates have ticked up just a bit, buyers are still out there looking. They will continue to be out looking until rates really start to climb. At that point, they’ll have less buying ability due to paying more for a mortgage.

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High prices, low inventory, and low rates make now an optimal time to sell.

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As you can see, due to high prices, low inventory, and low interest rates, putting a home on the market this winter is a great idea because you never know what’s around the corner. An additional bonus point is that you can even gear your moving date to coincide with the timing you originally wanted. For example, let's say you found a buyer in the late winter or early spring. You might be able to time your sale in a way that allows you to move in the spring or early summer.

We’d like to thank Amy for the question by sending her a $10 Panera gift card!

If you have a question for me and I answer it in one of my videos, you’ll receive a gift card, too. Just give me a call or send me an email. I look forward to hearing from you!

Season's Greetings from the Donovan Team

donovanhomes@yahoo.com (Karen and Joe Donovan) — Wed, 23 Nov 2016 10:38:00 -0800

It may surprise some of you to know that we at the Donovan Team are as passionate about music as we are about real estate! Please Check out this year's Singing Christmas Card!

Want to listen to the song? Play Song
Want to watch the full video? Play Movie

With the holidays in full swing, we wanted to share something special with you today.

As many of you may know from prior posts - when we aren’t busy helping our clients buy and sell real estate or helping our team members design their dream real estate career, we love writing and performing music!

We are proud to present our 5th Annual Singing Christmas card for your musical entertainment! This year's presentation is entitled: “Memories Are Evergreen”. With guest vocalist Paul Donovan on lead, Joe Donovan, musical producer on harmonica, and Karen Donovan, singer, song writer, on backup vocals. Warning - this video could bring a tear to your eye as you recall happy memories from your past.

Click here to hear the track and see the music video, which is comprised of our home movies from years ago. You may even recognize a few members of the Donovan team in it!!

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Wishing you and your loved ones a Christmas & Holiday Season that is truly Evergreen!

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From all of us at the Donovan Team, we’d like to wish all of our Clients, Friends, Colleagues & Loved ones a Blessed Holiday and Happy and Healthy New Year and may all your wishes come true!

In the meantime, if we can help you or a loved one make your real estate dreams come true in 2017 - don't hesitate to give us a call!

What Is a CMA & Why Do You Need One?

donovanhomes@yahoo.com (Karen and Joe Donovan) — Thu, 20 Oct 2016 11:38:00 -0700

What is a CMA? Why do you need one? I’ll go over the entire comparative market analysis process for you today.

Looking to sell your home? Get a FREE home value report
Looking to buy a home? Search all homes on the MLS

This month I’m answering a question from Evan Resnick, the winner of our $25 gift certificate. Evan asks, “What is a CMA and why do I need one?”

First of all, CMA stands for competitive market analysis or comparative market analysis. If you want to know what your home is worth, you would ask a real estate agent for a CMA. Some owners might want to use online home valuation sites, but that is a mistake.

If you are buying a car or something like that, it’s pretty easy to go online, look at similar products, and set a price. It is not so easy when it comes to setting the value of your home. Those automated home values do not take the many upgrades you have made to your home into account. They also have no way of knowing what features your home has that other homes do not. The other problem is that those automated values only look at sold properties.

When a Realtor does a CMA, they will look at several different kinds of properties. They will look at sold properties because that gives you a history of what homes in your area have sold for. However, they will also look at properties that are currently listed for sale (your competition) and homes that recently went under contract. If a home just went under contract, that tells you that the property was priced competitively.

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Realtors look at many different properties during the CMA.

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Your agent will also look at homes that did not sell, which are called expired listings. If a listing expired, you’ll know that those homeowners were asking for more money than what the market was willing to bear. In short, the market didn’t support the price they wanted for the house, and you don’t want to make that mistake when pricing your own property.

Once the Realtor takes all of these properties into consideration, they will come up with a proposed asking price for your home. They will also give you a selling price so that you know what you can actually get if you decide to put your home on the market.

A lot of the time, people might not be able to sell right away but would still like an idea of what their home is worth. That is no problem. A Realtor can still come by, look at your home, ask a few questions, and put together a CMA for you. If you wait for a year to sell, you can look at that CMA and see if it makes sense for you to sell in that market.

If you have any other questions about finding your home value, please let me know. If you have a question you would like answered in our next video (and if you want a chance to win a $25 gift certificate), please submit it to karen@homesbydonovan.com or text your question to 727-517-1751.

As always, if you need any help in the meantime, please don’t hesitate to reach out to us. We would be happy to help you!

Helpful Travel Alert

donovanhomes@yahoo.com (Karen and Joe Donovan) — Tue, 30 Aug 2016 09:10:00 -0700

Travel alert — avoid bright, shiny objects!

More and more people are traveling every year, so I thought I'd better issue this travel alert to watch out for bright, shiny objects at the airport. I'm not talking about guns or knives, but rather clothing with metallic features, like the ones on my shirt in the video above.

I actually set off security with this shirt! I thought they'd just take me aside for a moment, but it turned into a full-body search in a private room. I also had to take apart all of my carry-on luggage so they could check for explosives.

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I'm talking about clothes, not guns or knives.

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My husband and I were able to move on without a mishap from this rural airport, but I can't say the same for the poor French people next to me who were searched. They missed their flight and had to stay overnight in the airport.

So I repeat, don't wear clothing with metallic decorations, and be prepared with extra time in case the unexpected happens!

Likewise, if you're thinking about traveling to a new place to live, I'd love to help you out. Give me a call or send me a text, and let's talk soon. I look forward to hearing from you!

Avoid Major Mortgage Mistakes When Buying in Tampa Bay

donovanhomes@yahoo.com (Karen and Joe Donovan) — Mon, 15 Aug 2016 10:52:00 -0700

I recently had a buyer whose lease was up. This buyer had been in the army and felt that he “hadn’t had a place to call home since.” He was about to close on the property when the lender sent an email requesting more paperwork, pushing the closing back another month.

The buyer had sent in his application on time and paid for inspections and appraisals. Unfortunately, the lender never sent the application to underwriting. When the buyer asked why everything took so long, the lender cited staffing issues. Because of this, the buyer didn’t have a home to move into when his lease was up. As the buyer said, this finance company failed.

When you buy a home, there are certain things you can do to avoid major mortgage heartbreak like this. First of all, make sure you work with a local, reputable lender. Get recommendations from friends and colleagues. Hire someone who has done many transactions.

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Work with a local, reputable lender.

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Please, don’t search online for lenders and hire one from a different state. They won’t know any appraisers in our area, and that can only lead to headaches.

You should also make sure that you have money in the bank to close. That means you should have enough for your down payments and closing costs. Don’t run up any additional debts by purchasing something like a car or furniture between contract and closing; doing so will also cause trouble with your mortgage.

Finally, make sure that you call your lender with any questions. Make sure you are pre-approved, not just pre-qualified.

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