How to Find a Good Buyers Agent

In my opinion there are some key qualities when looking for a good buyers agent.

Experience - I would want someone who has been around the block a few times. An experienced agent has a good feel for the market whether it is surging or retreating or perhaps how much an offer should be below list price.

Diligence - I would want an agent who will not give up at the first sign of adversity. In seller markets you may have to make many offers before one is accepted. Foreclosures and short sales make the realtor work harder but they may lead to a deal for you

Patience - Buying a home is a process. Sometimes you may have to wait longer to get feedback on a short sale or foreclosure. Sometimes they may have to have patience with ornery listing agents who don't always return phone calls emails and texts.

Neighborhood - I would want a realtor who is an expert in a particular neighborhood. Realtors can actually take you anywhere in the continental United States but it helps if they know all of the Knooks and crannies of the neighborhood you are interested in. A good first question is to ask "What neighborhoods do you specialize in" before you let on what neighborhoods you are interested in.

Negotiation Skills - Buying a home is sort of like haggling for a car. You will make an offer and then the other side will stall, and then possibly make a counter offer. You want a realtor who can look at comparables in the market place and anticipate what the value of the appraisal will be.

Charm and Good Looks - Charm and good looks is hard to find and only goes so far but it has been my experience that a little charm goes a lot further then butting heads with all of the other realtorsout there.

Now is probably a good time to Buy. Prices have started going up! Please see the following article by Marc Jablon -  Remax 561-213-6139  marcjablon@yahoo.com

 Much to the surprise of everyone, prices of homes in Boca Raton and the rest of South Florida appear to have gone up.  

Please see attched graph from City-Data.

 Last year’s median price in Palm Beach County was $195,000. Currently, as of March, it has risen to $225,000, according to figures from the website, Realtor.com. This marks an almost 15% price increase over last year’s prices.

What has brought about this relatively recent rise in prices is the sudden drop of more than 35% in the number of single family properties that are for sale. On top of that, because so many people are underwater on their homes,  large numbers of homeowners in Boca Raton have opted out of the home sales market and have decided to remain in their homes either until the economy improves or until they are carried out feet first.

Higher list prices may not mean higher selling prices.

However, the fact that asking prices are up does not mean selling prices are rising. What happens to house prices is that heightened expectations occur when Boca homes sell nearby.

If that Boca Raton neighborhood has had three or four homes for sale and they suddenly sell, the remaining homeowner perceives that his home now has more value based on simple supply and demand. So he or she asks for a price that is 10-15% higher than the last, highest price sale.

However, unless that home is in perfect condition and is larger or has more amenities that the past sales, it is still likely to sell at a price very close to the strongest comparable sale (comp) within the last 90 days.

Mortgages are based on recent comparable sales.

That is because banks appraise homes based on recent selling prices. If the buyer is coming in with a mortgage to purchase that Boca Raton home, the bank will not lend an amount that is significantly different that the last comparable sale. (For mortgage information, go to http://www.PrestonWare.com)

So, unless you have a buyer who loves your house more than life itself, who is paying cash, and whose Boca Raton realtor has never looked at a comp, you will need to price according to current market values. And if you do, your home will sell fairly quickly.

 

 

Selling price statistics are up across the nation.

While a number of industry observers believe that the Boca Raton housing market has finally bottomed out, the plethora of REOs that are due on the market may put that theory in jeopardy. Nonetheless, across the nation, statistics point to a 6% median price rise since last year, and in neighboring Broward County, home sellers noted an 8% increase over last year’s median price of $168,000.

 

Marc Jablon, The Jablon Team

RE/MAX Complete Solutions

JablonTeam@gmail.com

561-213-6139

 

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