Do You Know the Waterfront Areas in Fort Lauderdale
What Should A Seller Know About Today's Market
Posted By - Joy Triglia, Broker - 1 day ago

 Truth About The Southeast Residential Real Estate Market

As our market continues to balance we are seeing many changes in our market.  From November 2013 through March 2014 we have seen sales rise in numbers.  These particular months have had some of our best closings since the downturn.

There are currently 211 properties on the market, on and off the water, in the Southeast sector of Fort Lauderdale with very little new inventory coming on the market.  Out of those 211 properties that are for sale, approximately 40% have decresed their original asking prices and some more than once.  Our market is stabalizing and supply and demand are now balancing.  With the decline of new listings, sellers whose homes have not sold are dropping prices in order to create an offer by more showings.

When Seller's are looking to place their properties for sale they need to ask themselves, "What would I pay to buy my home today?"  Homes that are priced right from the beginning sell faster and sell closer to full asking price.  Buyers are much more aggressive and educated in the values of homes with the use of the internet.  Buyers do their homework in today's market many times prior to contacting a REALTOR or  previewing their first house.  Many also take the opportunity to preview homes on Open House so they can get a better idea of value and what their money buys.  Sellers need to take into consideration all comparable sold properties that are similar to theirs as an appraiser would do when pricing them and placing them on the active market.  The average time on the market for a well priced home on and off the water is much less when priced right!

If you are a seller you must ask the right questions before listing and pricing your home:

  • What homes have sold within my neighborhood?
  • Out of the homes sold in my neighborhood which are comparable to mine?
  • What sets my home apart from the other comparable properties?
  • What was the average time on the market?
  • Were the Listing Prices reduced during the listing period?
  • Is there anything I can do to increase the value of my home with a minimal investment?
  • Do you recommend staging?
  • How would you price my home and why?

These are just a few of the important questions you need to ask when pricing your home.  In this unpredictable market you must make sure to price your home so it will sell!  If your home is unique, It is also recommended that you obtain an appriasal from a reputable appriaser which can aid in your pricing decision.

Selling your home is a big step and a Professional REALTOR who offers "Full Service" can walk you through it!

 

 

 

 

 

 

 

 




What is a FULL SERVICE Agent
Posted By - Joy Triglia - 1 day ago

When it comes to Selling Real Estate, there are agents and then there are "FULL SERVICE" Agents.  At Century 21 Universal Luxury we are all "FULL SERVICE".  

What does a "FULL SERVICE" Agent do to set themselves apart from the rest?  

  • Perform a thorough profile on a property before listing and writing a contract for purchase.
  • Check permit history
  • If a property is owned by a Corporation verify who can sign for the corporation.
  • Attend All Showings
  • Host Professional Brokers Open
  • Attend All Inspections
  • Refer a minimum of three Closing Agents/Attorneys
  • Refer a minimum of three Licensed and Insured Inspectors
  • Attend all Appraisals
  • Attend closings
  • We work diligently and honestly to make sure you we head to a smooth closing
  • We attend all walk thru's

At Century 21 Universal Luxury we want to make sure each experience our clients have is the best so when they look for another property or know someone looking for a property they will refer them to us.

We receive many referrals and that the best form of thanks we can receive from the hard work we put into our clients and their interests.




Why are building permits important?
Posted By - Joy Triglia - 2 days ago 526 comments

Do you know why building permits are important?

As a Buyer, building permit information can be just as important as your inspections.  For example, when an owner of a residential property changes their air conditioner, hangs a fan, upgrades their electric, replaces their windows and doors, they need a permit issued by the city.  The permit issued by the city will ensure that the items that were either changed, added or replaced to the residence, have been done according to code.  The building codes are in place to make sure that properties are safe and built to the latest building standards and specifications.  

There are many properties on the market that have been altered without permits or even some that have applied for permits but never followed the permits to full completeion having been properly inspected and finally closed by the city.  These properties which have open permits can be a problem for a buyer because many attorney's view these type of property issues as defects.  Why?  If you have an open permit on a property and you close on that property and later decide to modify that property, the building department can ask that the open permit be closed prior to any other permits being opened and can enforce new building codes to be adhered to which in the end can cost a buyer quite a substantial amount of money. 

Furthermore, if the reidential property was altered without a permit and you proceed to buy the property, you can be responsible if the city realizes that the property was altered without permits.  When a property is altered without the proper plans and permits the city may make you return the property to it's prior condition and remove any and all altered items, make you pull proper plans and permits for today's code, pay triple fines for not applying for a permit, etc...  This can be quite a bee's nest!  

For example, an owner of a property replaces the kitchen cabinets and the sink, to replace the cabinets is one thing, but replaceing the sink requires plumbing to be re-connected, a plumbing permit is required for that.  If there was no permit applied for, the city can ask you to remove the sink and apply for permits, along with fines.  

If you are a Seller, why are permits important?

Many Seller's today list their properties with an agent for sale.  A responsible, thorough agent will run the history of the property to find out if all proper permits were obtained and to verify that all permits ever applied for on the property have been properly closed.  In many cases, homeowners have no idea that they have open permits still actively open on their properties.  If a Seller has an open permit, it can delay or possibly even cancel a Real Estate closing.  An owner of a property with an open permit must close that permit 90% of the time as attorney's do not like Buyer's to take the repsonsibility of an open permit due to problems that could be incurred should they ever update, modify, or replace any part of the residence.  

All Seller's should make sure that their lsiting agent provides them with a history of their property to ensure that they have no open permits.  If you do find that you have open permits, call the contractor who originally opened the permit for you and ask them to close it or you can call the city and report them and ask the city to assist you in getting the contractor to close it.  There are times when a contractor is no longer is business, this can be a bigger problem which is handled case by case.

The best thing a buyer can do is check permit history or ask their agent if they can provide a copy.  For a Seller, monitor your property when any work is performed on your residence, ask the contractor if a permit is required and if so, make sure that they finalize and close the permit.

If you would like to check your property now, follow the link on my home page, you will find a link to the City of Fort Lauderdale to check out your property or one you are interested in buying.
www.joytriglia.com


If you have ny further questions or would like to comment, contact me:  joytriglia@gmail.com




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