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Weston Hills Country Club *ON GOLF*

 

 

[youtube]http://www.youtube.com/watch?v=Xn1ifKViQoI[/youtube]

 

 

STUNNING GOLF VIEWS FROM CUSTOM BUILT RESIDENCE IN WESTON HILLS COUNTRY CLUB! YOU’LL LOVE ENTERTAINING ON HUGE SCREENED POOL/PATIO AREA OVERLOOKING THE 11TH HOLE OF “TOUR COURSE”. ENTIRE ROOF REPLACED IN 2012, THREE A/C UNITS REPLACED IN 2011, SATURNIA MARBLE FLOORS, CROWN MOLDING, PICTURE WINDOWS IN WET BAR & FAMILY RM ALLOW FOR PANORAMIC & UNOBSTRUCTED VIEW OF GOLF COURSE.
4 BEDROOMS + OFFICE
4.5 BATHS
GOURMET KITCHEN WITH NEWER SS APPLIANCES GRANITE COUNTERS, 42″ CABINETS & FRENCH DOORS

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If you are interested in finding how much your home is worth or want to purchase a property, please call us at (954) 588-0147 or
contact us.

 

Written by Marisela Morales | Discussion: 97 Comments »

Real Estate Pricing Conundrum…

How Much is a Property Really Worth?

Is it the most buyers are willing to pay?

Is It the least sellers are willing to get for the property?

Is what and appraiser thinks it is worth?

Fortunately we have this dilemma since the market has been moving very fast. In the Single Family Homes Market in Weston for all price ranges we have been very close to 6 months of inventory which is the threshold between a Sellers Market and a Balanced Market*; if we look at the same market of properties priced under $ 400,000.00 the trend for the last year has leaned over being a sellers market with an average of 4.68 months in the last 15 months.

Now what is the problem then???

The sellers have high expectations based on the fact that they get many showings and in most cases competing offers.

The buyers can be divided in two groups: the ones that look in detail at closed sales and their offers are not competitive and those very aggressive willing to offer way above comparable sales expecting the appraisal to take care of the “real” value of the property.

Now we have the appraiser who if we are lucky know the area and pick reasonable comps and those who value regular sales taking more than 50% of comparable properties to be short sales (deducting 10% off the listing price if they are pending)  an foreclosures when the market’s trend is a price to sell ratio of 95% and distressed sales only represent 30% of the closed sales. The appraisals tend to be below the negotiated purchase price and in most cases the sellers are willing to reduce the price to reflect the appraised value and in fewer cases the buyers are willing to bring extra cash and pay above appraised value.

The spread of prices is unbelievable in both active listings and closed sales. It’s hard to determine an exact price and we look at best and worst case scenarios to determine how to price either when we have a listing (making sure it is competitive based on whatever else is in the market) or when we suggest a price to use when presenting offers. Sellers and Buyers have the last word!

We don’t want the market to look like the earlier 2000’s where people overpaid just to be able to grab a property, but in a market where supply is short and demand is high the gaps will always exist and the most aggressive buyers end.

Have you experienced problems being able to secure a property to purchase?
What would be your advice to someone who has presented several offers and has always been outbid by other buyers?

*Months of Inventory based in Closed Sales
Less than 6 months=Sellers Market
Between 6 and 9 months=Balanced Market
More than 9 months=Buyer’s Market

To stay updated with what’s going on in the Real Estate Market and receive my blog posts directly to your inbox subscribe here.
If you are interested in buying or selling, please call me at (954) 588-7260 or
contact me.

Written by Ines Garcia | Discussion: No Comments »

SW Broward Single Family Homes for Sale and Sold as of 01/01/2010

Single Family Homes For Sale 01/01/10 - Sold Dec,2009

In most cities we can notice a very low number of homes for sale available. When we have less than 6 Months of Inventory it is considered a Seller’s Market. If you have been in the market purchasing in the last few months you have probably experienced

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Written by Ines Garcia | Discussion: No Comments »

Foreign Language Immersion 2010 Summer Camp in Weston

Picture 6

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Written by Ines Garcia | Discussion: No Comments »

Weston Real Estate Market Trends as of April 30,2009

Weston’s Single Family Homes Market is Getting in Balance

As of the end of April the Number of active listings has decreased in 266 units compared to 779 active listings at the end of March 2009.(almost a 35% reduction).

Active Listings:                513 units
Pending Sales:                 148 units
Closed Sales:                   50 units

Interesting Facts about Active Listings:
-Decrease in the percentage of Short Sales Listings from 38% to 35%
-Just a handful of Foreclosures (REO’s)
-In the Peak of the Market (Winter of 2004) – there were 121 Active Listings in Weston
-In the Bottom of the Market (Spring 2008) -there were 1204 Active Listings in Weston
-With 50 Closed Sales per month we would be in a balanced market if the number of Active Listings = between 450 and 500 units (9 to 10 months of inventory based on Closed Sales). We are almost there!

Interesting Facts about Pending Sales:
-Based on Pending Sales we have 3.5 months of inventory = A Seller’s Market
-There are some listings showing pending for almost a year, most of them Short Sales.

Interesting Facts about Closed Sales:
-Closings prices in most cases are very close to listed price and some sales have been above asking price.

Active/Pending 7 years history by Quarter

Written by Ines Garcia | Discussion: 4 Comments »

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