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33408 : Real Estate Advice

  • All21
  • Local Info1
  • Home Buying6
  • Home Selling3
  • Market Conditions0

Activity 14
Tue Aug 8, 2017
Tom Priester answered:
John,

There is a lot of misinformation out there in the Internet. Some real estate sites put it out there on purpose to attract attention for "prospects" who are happy to give out their phone number and email that is then sold to Realtors who pay a lot of money for a zip code and these "hot leads".

Do not worry as the information and estimated price you see are not truly affecting the true value of your home.


Tom Priester
Principal Broker
Paradise Sharks
... more
0 votes 2 answers Share Flag
Wed May 17, 2017
Chris LaPee answered:
Read the listing agreement. Make sure it does not provide the agent with such discretion (though such a provision would likely be unenforceable anyway). If it does not, then I suggest you write a letter or email to whoever manages the firm explaining the agent's violation of his duty of obedience. And, as a consequence of such violation, he has breached your agreement and you are therefore terminating the contract. If mailed, do soncertified return receipt requested and make a copy of the letter and envelope. If email, bcc yourself to it and print a copy of the SENT email.

Agents cannot act contrary to their principal's express and unequivocal directions.
... more
0 votes 3 answers Share Flag
Sat Jan 21, 2017
Davefraz.design answered:
I have an opposite situation. My agent doesnt want to submit the offer because he thinks I am paying too much for that house. I told him that my own business and then he told me that the property is pending already and he was glad we didnt send out the offer. I was really upset and I do not even know if he is BSting me. ... more
0 votes 14 answers Share Flag
Tue Oct 25, 2016
Tom Priester answered:
Blanktoo2,

It is extremely rare for mortgages to be assumed but in very rare occasions it may make some sense, Interest rates today hover near all time lows with the average overnight rate on a 30 year fixed conforming note sitting this morning at 3.44% and a 15 year fixed conforming at 2.72%. Hard to beat todays rates and they are one of the main reasons the real estate markets is doing as well as it has been.

If there is no benefit to paying if off now and you feel it could be used to the advantage of a potential buyer keep it live and if the assumption doesn't work have the closing agent pay of the loan at that time.

Whenever doing anything real estate we advise everyone to interview at least three brokers. Make sure you find one who can answer your questions about how they will professionally assist you to meet your goal's and what it is going to cost you.

The very best of luck to you with all your real estate goals. Fins up.....



Tom Priester
Principal Broker

Paradise Sharks
info@paradisesharks.com
561.308.0175
... more
0 votes 1 answer Share Flag
Tue Apr 5, 2016
Tom Priester answered:
Karrie,

First understand that all these "click here for the value of your property" ads are nonsense. It isn't that easy. I have been involved in the construction and sale of real property for my entire life and the reality is your home is worth exactly what a ready, willing and able buyer is willing to pay for it. I could hire three different appraisers, not give them a purchase contract they can "appraise to" and you will get three different "values".

In buildings like Old Port Cove it is a bit easier as you can easily see what similar units have sold for, what is available and how they were marketed. Still, the condition and finishes of your unit, view and your motivation play a significant role. How the property is marketed is critical. As an example, Paradise Sharks just listed a fairly expensive condo in the area and there were 5 units on the market for sale in the building and another foreclosure that should be hitting the market at any time. This represented about 12% of the entire building in which only one unit had sold over the past year. My client and I worked together on a marketing program and we were fortunate as a ready, willing and able buyer was attracted and we put together a deal. Without the marketing, a motivated client and a broker willing to work diligently towards making a "deal happen" we would be out there like the other units in the building still trying to attract a buyer.

You can use a quick snapshot of "historical value". If I am correct you paid $330,000 for your home in May of 2009. Median prices in the North Palm Beach area for your home type are up about 35% which would give us a "snapshot" price of $445,500. From the 12th floor in your stack you should have great water views across John MacArthur to the ocean. Not sure of the condition or if it has changed since you purchased. This is just a straight historical valuation that is one tool we use.

In your building we have had two sales over the past year. One unit was the same size as yours, had similar views but was about 60 feet above yours with dated finishes in good shape. It sold for $405,000 in October so this too would point to the fact that the "snapshot" may be close. Only 2 units in your building on the market and only 2 sales over the past year. Besides the unit discussed above all the others are larger 3 bedroom units. This is just in the West Tower so a detailed analysis would include the East and Marina Towers and also take a look at the overall health of the Old Port Cove and North Palm Beach markets.

We take great pride in providing our clients detailed information to make fully educated decisions whether they are buying or selling anywhere in Palm Beach or Martin County. We publish weekly market updates that you can always enjoy at tompriester.wordpress.com

We hope this information is helpful and if you ever need anything real estate please feel free to reach out to us anytime.


Fins up.....


Tom Priester
Principal Broker

Paradise Sharks
561.308.0175
info@paradisesharks.com
... more
0 votes 3 answers Share Flag
Wed Jun 3, 2015
Chad Barrett Penner Esq answered:
Mon Aug 12, 2013
Sharon Lewis answered:
Talk to Agent A's broker in charge Show the letters you received to the broker in charge and ask for help .
0 votes 9 answers Share Flag
Fri Mar 29, 2013
Cristyle Egitto answered:
Check out: http://factfinder2.census.gov < You can search by city, zip, etc.

There are about 17,000 people, 54.9 median age in 33408.

North Palm Beach is a diverse area with singles, families, empty nesters, snow birds and retirees. There are single family homes, gated communities, condos, townhomes, waterfront, etc. so there are lots of living options. ... more
0 votes 7 answers Share Flag
Sun Mar 20, 2011
Tom Priester answered:
House Boat,

Please be aware that the valuation attributed to a property by the Palm Beach County Property Appraiser for property tax purposes is not the same as market value. Some like to say the "rule of thumb" is the county valuation is about 80% of market value but the numbers are actually all over the board and each property needs to be evaluated by its own set of data. The information you should be looking at is the most recent sales of units in that development and do a direct comparison of the unit your are interested in with those sales. I am assuming you are working with a qualified Realtor® but if not and you need help from someone who can help you evaluate the right opportunities in the area and negotiate the best pricing and terms please feel free to contact me at your convenience.

I live in Jupiter work almost entirely as a buyers agent throughout Palm Beach and Martin Counties and would be honored to be on your interview list if you are interested in locating a true pro to make your housing dreams come true. I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
... more
0 votes 9 answers Share Flag
Fri Feb 25, 2011
Alma Kee answered:
Hi Again,

Also did the other buyer pay "ALL CASH"? Was your offer also ALL CASH?

If you are going FHA with only 3.5% down it may be more risky for a seller to accept an offer from you because the house needs to be in fairly good condition to pass the FHA appraiser's inspection. For example the roof must have at least 2 years of life on it, no peeling paint, no rotted wood on eaves, no exposed electrical wiring.

The only case you may have against this realtor is if he DID NOT present your offer to the Seller. If the Seller chose to go with a different buyer well there is nothing you can do about that. Also have you considered the listing agent was offer "additional" commission by the buyer that ultimately got the house? I have seen this happen when there is a spectacular bargain priced house.

That's another problem, if this was a "regular" sale (not a short sale or bank owned) then it appears the Seller may have sold too low based on the fact that multiple buyers were clammoring for the property. He may have done his seller a serious injustice! You may even want to try to contact the previous owner to see if he was ever presented with your offer. If he wasn't that seller may be furious and take legal action against the listing broker. Then you may have a case against this Realtor! You wouldn't be able to reverse the sale but you may be able to inflict some pain on him with the formal complaint process.

Hope this helps and immediately go find a Realtor you and your husband are comfortable with. As you can see you had no advantage by going through the listing agent directly!

www.DaveRamsey.com has Endorsed Local Providers in Real Estate so you may try there for an agent.

Good luck on your nome search!

All my best,
Alma
... more
0 votes 11 answers Share Flag
Wed Jun 11, 2008
Ramjohn answered:
Hello Carol, Can I bother you as to where you found your answer to the question . . . do you only accept listings from real estate professionals (mls) or can an individual post a listing w/photos? Thanks ... more
0 votes 3 answers Share Flag
Tue Jun 3, 2008
Herman Chang answered:
Hello Sara & Ted,

Here is a link to some properties that fall within your requirements. We look forward to helping you find the right property.

Let me know if you would like more info. in regards to our relocation services. ... more
0 votes 3 answers Share Flag
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