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

According to a recent article, 90% of today’s homebuyers begin their property search on the internet.  They are smart and educated, and are willing to do their own research on a property that interests them long before contacting an agent.

At Scott Gordon Realty and Exclusive Estates, a division of Scott Gordon Realty, we recognize and welcome this trend.  Our recently revamped website contains the most up-to-date listing information, financial tools such as a mortgage calculator and neighborhood and area maps.

We implemented these devices to give today’s web-savvy buyers the resources they need to be well-informed and to have an educated, realistic view of the current market. 

With access available to the world, we also recognize that the internet is a powerful marketing tool.  Our website is linked to a host of search engines and our listings feed from two separate MLS services, effectively providing double the amount of exposure to buyers and brokers.  Our partnership with Realtor.com and the Palm Beach Post Online also allows potential buyers to view our selection of listings at their leisure, whether they are local, out of the state or out of the country.

Today’s Real Estate firm needs to understand today’s technology and how to use it effectively.  At Scott Gordon Realty  we have the skills and the strategy to use that technology to benefit buyers and sellers alike.

In what is most likely a record price for a condominium in Palm Beach, the penthouse of the West building of the Il Lugano condominium was bought from Miami Dolphins co-owner Stephen Ross for $12.1 million.

The unit at 300 Seminole Ave has 5,798 square feet, is situated on an entire level of the building and has five terraces that overlook the Intracoastal, Palm Beach and also the Atlantic Ocean.

Renovated in 2000 by developer Richard Schlesinger and his son Adam, what used to be the 66 unit Dorset House was totally restructured into 14 luxury condominium apartments, taking out a level of the building to accommodate larger units with higher ceilings.  The unit also boasts a private cabana, boat dock and 4-car garage.

According to industry reports, large condominium residences are selling rather swiftly, due to maintenance and security issues connected with owning a single-family home.  Buyers in this category recognize the value of having less upkeep with the same amount of living space.

The following article appeared in the February 1 issue of the Palm Beach Daily News.

Friday, February 1, 2008

Many home buyers in Palm Beach today are trying to sense where the bottom of the market is before they commit to a purchase.  Even so, they add, a well-maintained home that appears fresh and in good condition can certainly attract buyers.

"Palm Beach has always been a stable real estate environment, says Gordon.  "Many properties will experience a downward trend, because of overstated values or condition.  But overall, Palm each real estate should be a secure real estate market and provide a good long-term investment."

One key to selling a house is to remove all the negatives a buyer may find.  That means taking a proactive approach to both the interior and exterior maintenance of your property, Ray says.  "Your investment upfront to shape up your home should reduce the days on market."

Gordon offers a few suggestions to accomplish that goal.  boost curb appeal with fresh paint, a new front door, new pavers or landscape lighting.  Maintain and update your landscaping with fresh beds of flowers and new mulch.  Pressure-clean the roof, driveway and walkways.

Inside, remove clutter from shelves and cabinets, closets, the garage and major rooms to give the appearance of a clean, organized property.  Clean the windows.  Fresh paint, new carpet, clean tile grout or refinished hard surface flooring can make a noticeable impact.  Updated bathrooms, kitchen appliances, countertops and cabinets always add to the "wow factor."

When establishing a value of your property, trust your Realtor, adds Gordon.  "Understanding Palm Beach properties doesn't happen overnight," he says.  "Our company has been established in Palm Beach since 1986.  We have the experience and know-how, and we can help you determine the best approach to marketing and selling your property as well as establish a realistic market price.

 Visit Scott Gordon Realty at 255 S. Ocean Blvd, Manalapan; call 561-533-5888.  Or visit the web sites www.scottgordonrealty.com and www.exclusiveestates.info.