Included is the Sales Data as mentioned in the Palm Beach Real Estate Guide.

According to the National Association of Realtors, pending home resales rose 7.4 percent – the most since October 2001 and the fourth such increase this year.

All regions of the country saw an increase in pending sales from July, with the West showing the largest increase of 18.4 percent.  The Northeast saw an 8.4 percent rise, the Midwest a 3.6 percent increase and 2.3 percent in the South.

According to reports, people are taking advantage of low home prices, and sales are up strongly in California, Nevada, Arizona, Florida, Rhode Island and Washington, D.C.

Although the likely reason for the rise in pending resales is investors buying up foreclosures, the fact remains that these houses are being taken off of the market, which has had a surplus of inventory.

When looking for a new home, many people are tempted to go it alone.  This usually ends up being quite a daunting task, even for the most tenacious and focused homebuyer.  Here are 10 ways that having a Realtor on your side can help:

1. Realtors research desirable neighborhoods and can relay important information to homebuyers such as home values in the area, amount of taxes paid and zoning restrictions.
2. Realtors can help find financing, prequalify you for a loan and can refer you to home inspection companies.
3. With knowledge about the way other homes in the area are selling, a Realtor can help determine a fair buying price.
4. A Realtor can suggest changes to make to the home to make you more comfortable and to make it a better investment, should you need to sell it in the near future.
5. Realtors can handle many of the tedious tasks – such as paperwork – for you, saving you time and energy.
6. A Realtor usually goes to the closing with you, giving you peace of mind that if an issue should come up, it will be taken care of effectively.
7. Realtors must abide by a code of ethics, treating everyone involved in the transaction fairly and equally.
8. A Realtor has the tools and ability to find the best suited home for you in the most affordable price range.
9. Simply put, a Realtor has the professional experience to put in the time and effort and do the job right.
10. A Realtor’s services are usually free to a buyer – commission is normally paid by the seller.

According to a report by the Florida Association of Realtors, newly lowered prices of existing single family homes is the main reason for the Treasure Coast’s 43% rise in sales, the largest annual percentage gain in the state.

After months of sales dropping in the double digits, Palm Beach County’s sales dropped only 3% last month from last year’s levels, another positive sign that the market is stabilizing.

Sources at the Realtors Association of the Palm Beaches agree, saying that buyers have been waiting to see how much prices will drop.  And they did -- median prices of existing homes in Palm Beach County fell 12% to $334,300 since June 2007, and in Martin and St. Lucie Counties, median prices fell 32% to $160,800.

Also according to the report, existing condominium sale prices fell 24% since June 2007 to a median price of $153,200, making them more affordable to first-time buyers. Martin and St. Lucie counties’ media price fell to $165,000 – a drop of 28%.

This reflects two things, according to analysts.  One – sellers are becoming more realistic about pricing their properties, and two – the amount of foreclosures in the upcoming months will drive down prices in the next 24 months.

Across the state, existing home sales fell 5% compared to last year’s figures.  Nationally, sales fell by 15%.  These low sales levels also mean lower prices – the median price dropped by 7% compared to figures from last year. 

Economists warn that there is still a way to go, but are hopeful that this is at least the beginning of the end.

The real estate market is ever changing; much like the fashion industry buying and selling trends are a continual ebb and flow. One of the biggest mistakes in a buyers’ market is to price homes with a “cushion” for negotiating room. With more and more inventory to look at buyers are taking their time to decide and heavily weighing pros and cons. They are searching for the most updated home with the best price in the most ideal location. Pricing your home correctly right from the beginning while your home is new on the market is crucial.

The agents at Scott Gordon Realty and Exclusive Estates are very familiar with the current market trends and are always available to assist you with any questions or if you need a price analysis of your home.

Your real estate agent determines the best price for your home by examining two categories: the current homes listed and the recent sold homes. Looking at homes that have sold in the last 30 days will give you an idea of what homes would have gone under contract for about 60 days ago. Then examine the current homes listed, a motivated seller will price their home the lowest of what is currently listed to ensure a fast sale.

Coming out of a seller’s market many homeowners in Palm Beach County understandably have trouble pricing their homes for the current market conditions. When faced with the need to sell your home, you need to weight the cost of lowering the price vs. your home possibly sitting empty and unsold, or the cost of postponing an important move for work or other reasons.

Other than price the second area buyers are focusing on is overall home condition. There are a few things you can do with minimal cost that will have a tremendous difference. These are a MUST if you need to sell your home quickly.

   1. New paint, inside and out! Paint is the least expensive update yet has the biggest impact.

   2. New carpet/flooring. Everyone wants to feel like they're in a new home, doing this simple task for the buyer may just put your home way above the completion.

   3. Replace the small things. Attention to detail is very important to buyers. Replace the faucets, switch plates, if old- replace hardware on doors and cabinets.

   4. Seriously Deep Clean Your Home. How you keep your home clean tells buyers how well you’ve maintained the unseen parts of a home. If your home is dirty and cluttered the buyer will assume behind the walls could lie many more problems.

   5. Clean and caulk windows. Seal any cracks anywhere.

Finally, location is the last factor to consider. If you home backs up to an interstate or overlooks a parking lot you would need to price your home accordingly. When an ocean view is available for the same price, what would bring buyers to your home?

Market the strong points of your home, if the nearby highway is a concern, advertise the property as close to transit, easy commute etc. What makes your home special? A koi pond? completed media room? bonus room set up as a kids play area? Make sure to stress the best features of your home and stage it accordingly.

The knowledgeable Realtors at Scott Gordon Realty and Exclusive Estates would love to help you get your home ready to sell. Contact us today.

www.ScottGordonRealty.com

561-533-5888

The Importance of Selecting Your Real Estate Agent

~Scott Gordon Realty Inc.

Working with the right Real Estate agent can save you hours of hard work, difficult negotiations and possibly heartbreak. Educated Realtors like those at Scott Gordon Realty and Exclusive Estates assist in the buying process ensuring a smooth transaction by negotiating with the sellers, keeping track of deadlines and due dates. In cases of multiple offers on a home, one missed deadline and your dream home could slip away.

With many years working with buyers and sellers a good Realtor can help point you in the best direction for your home purchase. You may possibly be in need of a single family home for your growing family, a vacation home or a condo to accommodate your busy lifestyle. An educated Realtor knows about local market conditions, neighborhood locations or other specialized factors that are important in the decision making process. A good Realtor takes the time to listen to your needs and adjust the home search accordingly.

One of the first things to consider when searching for a Realtor is the kind of home you are looking for. An agent specializing in acreage and horse farms would probably not be the best suited to help you find your vacation Beachfront home or condo. When searching for your new home or vacation home in Palm Beach County Scott Gordon Realty and Exclusive Estates agents are the best in the industry and have the experience and expertise in Oceanfront and Country Club properties to assure a smooth transaction.

Start your search for an agent utilizing several different routes: ask friends, family or associates for their personal recommendations, talk with the Realtors at well known and respected agencies like Scott Gordon Realty or Exclusive Estates and finally look at what agencies are selling the homes in the niche you’re searching for.

Set up interviews with a few agents, listen to your gut feeling; searching for a home can sometimes be a long process and you want to feel comfortable working with your agent. Avoid high pressure agents, explain what you’re looking for and ask what they feel the best strategy would be. Their concern and dedication to your home search is crucial.

Experience is also important but do not discount a newer agent with a higher level of motivation and commitment. A bonus to using a new excited agent is you can be sure if they don’t know the answer, they will go the extra length to find out.

Look for an agent with a strong team and supportive Broker behind them.  Scott Gordon Realty’s sales team in Manalapan is supported by Broker Scott Gordon. Exclusive Estates managing partner and Realtor Jeffrey Ray supports the Palm Beach office.

Always make sure you’re working with a licensed REALTOR- A realtor is a member of the national association of Realtors (NAR). These agents agree to be held to a higher standard of practice known as the REALTOR Code of Ethics.

Best of Luck in the Search for Your New Home!

You can locate Scott Gordon Realty at

255 S Ocean Blvd * Manalapan, FL 33462 561-533-5888 www.scottgordonrealty.com