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Home Selling in Juno Beach : Real Estate Advice

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  • Home Buying7
  • Home Selling0
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Activity 3
Tue Apr 25, 2017
Kathy Burgreen answered:
First, the listing contract you signed is with the brokerage - not the individual agent. Therefore, you need to speak with the Office Manager or Broker in Charge and insist they reassign you to a different agent in their office. You are entitled to work with a different agent as long as they are with the same broker. Because you signed a listing contract, you cannot go to a different brokerage until your contract is finished. ... more
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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
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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
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