Teri Arbogast is SELLING Homes!

Teri Arbogast is selling homes in Davie, Cooper City, and Weston!

Grove Creek Ranches in Davie

A RECORD-BREAKING sale in Grove Creek Ranches in Davie!  Teri sold a beautiful 4/4 home with a separate 480-sf guest house for $1,850,000!  Sitting on a private corner acre, this home has everything from an elegant foyer entry and marble flooring to large bedrooms, an office, a cabana bath, and a guest house.  This home is close to great shopping, restaurants, and beautiful Broward County Parks.  If you are looking for a home similar to this home in Davie, contact Teri Arbogast today!

Monterra in Cooper City

A Corta Bella single level Chapala in beautiful Monterra SOLD for $1,230,000!!  This upgraded home boasts elegance and luxury with 12ft ceilings and beautiful Saturnia marble flooring.  The private, tranquil water, pool and nature views make this home unique. Monterra is a gated community in Cooper City with a resort style clubhouse and pool, tennis courts, an exercise room and much more.   The Cooper City schools are also highly desirable!  If you are looking for a home similar to this home in Cooper City, contact Teri Arbogast today!

San Messina in Weston

Who doesn’t love Weston Florida?  This highly upgraded 2/2.5 townhome in the San Messina community, sold for $485,000!   Immaculate, bright, open and airy adds to the sophistication of this townhome.  The kitchen has solid wood cabinetry with granite counters and beautiful flooring throughout.  The San Messina community amenities includes a resort style swimming pool, children’s playground, and a sandy beach volleyball court.  Weston is also zoned for the most sought after schools.  If you are looking for a home similar to this townhome in Weston, contact Teri Arbogast today!

Teri Arbogast is SELLING Homes in Great Broward County Cities!

Davie, Cooper City and Weston are all close to great schools, colleges, shopping, dining and great parks.

If you are you interested in homes in the Davie, Cooper City or Weston areas contact Teri Arbogast today.  Do you have a home you would like to sell in the Broward County area?  Teri Arbogast can help with that too. Teri will be able to help you find the value of your home and price it just right!

Whether you are looking to buy or sell a home Teri Arbogast and her team promise to work hard for you!

Davie FL homes for saleDavie FL Home Design Trends are in hot demand.  You may not be ready to sell, but you may feel like you’d like to put some new life into your home.  Here are some tips for updating your home using the latest decorating trends.

  1. Navy Rules

Navy blue is turning up everywhere.  For example, navy blue kitchen cabinets with white countertops and silver accents, for door and drawer handles, works to create a modern but appealing kitchen design.  In fact, some designers are using navy for the kitchen island and a lighter color for other cabinets.

If you already have white countertops, all you need is a bit of paint.  If you’re considering changing the countertops, consider quartz.  It’s almost maintenance free because it resists stains and scratches.  It also doesn’t need to be sealed like other types of stone.

  1. Kitchen Islands Still Popular

Kitchen islands are very useful and they’ll probably be in style over the long-term.  They provide additional seating space and encourage more than one cook in the kitchen due to the extra prep space.  You can customize yours with open shelving and charging stations.

Another alternative for charging your various devices is to install a drawer that holds electrical outlets.  Your counters can stay clear while you prepare your phones and tablets for use.

  1. Pantone’s Color of the Year is Perfect for Florida Homes

For 2017, Pantone chose a green color called Greenery as the color of the year.  It’s perfect for Florida’s indoor/outdoor lifestyles.  If you’re looking for a bold change, try painting the walls of your room in a shade of Greenery, then include other color accents to bring the room to life.  Navy and Greenery go very well together, bringing a fresh outlook to any room.

  1. Ideas for Your Bathrooms

Bathrooms continue to be turned into spa-like getaways.  You could consider the use of a freestanding tub to create a focus for the room.  Claw foot tubs are always popular, but there are also very modern designs that almost look like a work of art.

Frameless shower doors have been popular lately.  Another trend to consider is the “curb less” shower.  Proponents of this design point out that a shower is safer when you don’t need to step into it.  In addition, new construction methods make adding a curb less shower much easier than you might think.  The other great thing about them is the clean look you can achieve to set your bath apart from the rest!

Another trend you’ll see is the move to larger tile in the bath.  People seem to like the uninterrupted look and cleaning is easier with fewer grout lines.  Tiles today can range from 12×24 inches up to 18×36 inches in size.

  1. Accent Walls are Making a Statement

Another trend that can help brighten up a room is an accent wall.  Traditionally, homeowners painted one wall a relatively bold color to bring depth into a room.  Today, accent walls are made from a variety of materials.  Shiplap is being called passé by some, but it’s still very popular for those who want more rustic charm.  Other accent walls use 3D wall panels to add texture.  3D panels come in a variety of designs; some are geometric while others mimic the waves of the ocean.  If you’re big into do-it-yourself projects, you’ll find peel and stick panels that you can paint to match your décor.

When you’re ready to make a move, keep the local experts on Teri’s Real Estate Team in mind.  I can’t tell you that we’re all interior design experts, but I can tell you that our team is highly rated.  Check it out for yourself – we’re proud of the service we provide.  If you have questions about Davie real estate, feel free to give us a call at 954-242-8030 or contact us online.

Davie Real Estate - Top Davie Realtor

Everyone knows that interest rates have been creeping higher.  The question is whether you need to change your home buying plans because of it.  There are a variety of factors to consider when you’re looking at the Davie real estate market, as you will see below.

 

 1. Small Interest Rate Increases Aren’t Devastating

All of the coverage in the media about interest rate increases – whether they have increased, or might increase, or will increase – can tend to make you feel as if buying at a higher interest rate will break your budget.  You need to do some math to determine what the impact of increased interest rates will be.

Here’s an example.  Let’s say you’re financing $200,000.  Your monthly payment for the mortgage itself would increase by approximately $60 per month for every half-point increase.

At 4.5 percent, you’d pay around $60 per month more than at 4 percent.  At 5 percent, you’d be paying $60 more per month than at 4.5 percent.  If a difference of $60 per month makes it impossible for you to purchase, you’re probably overextending yourself in the first place.

Also, keep in mind that interest rates don’t typically increase in half-point increments.  For example, in December, mortgage interest rates went from 4.13 percent to 4.16 percent during one change.  In addition, rates have stayed under 5 percent for the past 10 years.  We have a long way to go before we get close to an average rate.

2. Market Appreciation May Slow

The possibility also exists that homes will appreciate at a slower pace than we saw last year.  While we’re currently in a seller’s market, the supply of homes on the market is low, and rising interest rates will scare some buyers out of the market.

3. There Are Ways to Win in a Seller’s Market

Buying in a seller’s market has a strategy all its own.  It isn’t necessarily more difficult to buy, but you need to use the right strategy.  In a seller’s market, sellers can be more particular about the buyers they deal with.  Sellers want buyers who can prove their ability to close a deal.  Sellers can also be less likely to negotiate on price because buyers are plentiful.

If you’re buying in a seller’s market, make yourself a prime catch for any seller.

It doesn’t matter if you’re a first-time Davie real estate buyer or looking to buy a Davie luxury home, you’ll get the best outcome if you work with a top Davie REALTOR®.   The agents on Teri’s real estate team are local real estate experts and can help you navigate the ins and outs of the Davie real estate market.  Call us at 954-242-8030 or contact us online.

 

Top Davie REALTORSDavie Florida Luxury Homes® will tell you that selling luxury homes is a bit different than selling mid-range homes.  The homes are larger, the prices are higher and the number of potential buyers is smaller.  Make sure your luxury home sells in the shortest possible time at the right market value price using the tips below.

Be Patient

Selling a luxury home takes time, so plan on being patient.  Not only are there fewer buyers in the luxury range, but the buyers are often more particular.  When a Davie homebuyer is making the kind of investment required to buy a luxury home, they are more likely to wait until they find the perfect one.

Focus on the Potential Buyer

Luxury homes are all about lifestyle; it’s not a matter of whether there are one or two bathrooms.  Luxury homebuyers are looking for the location and amenities that fit their lifestyle.  Therefore, start your marketing by thinking about the type of buyer who would love your home.

Certainly, your perfect buyer needs to have the financial resources to purchase your home.  After that, however, what’s different about your home that would attract a specific type of buyer?

Do you have a large theater room that would attract someone who loves movies or who has children that do?  Are you in an outlying neighborhood where you can walk to fine restaurants and shopping?  Perhaps your home will attract those who want to live in a walkable neighborhood without being in an urban setting.

Once you’ve identified the type of buyer you’re looking for, your marketing campaign can focus on highlighting the features of your home that will be most in demand and set you apart from your competition.

Stage Your Home to Sell

You may think that your home is perfect, but the odds are you still need to do some things to make your home show at its best.  You want buyers to walk through your home and imagine themselves living there.  If you have wallpaper that you love, but might be considered too colorful for many people’s taste, replace it with neutral paint.  If you have photos of five generations of your family in a collage in the family room, replace them with family-neutral wall decorations.

Sometimes, it’s difficult for homeowners to make the kind of changes that will bring them top dollar.  Just keep remembering that you won’t be living in the home.  It doesn’t matter if it looks a bit too sterile for your taste.

Think Carefully about Holding Open Houses

Luxury home marketing is usually very targeted.  Mass marketing tools such as open houses may not be the approach you want to take for a number of reasons.

Before you jump into holding open houses, decide what your objective is and determine how effective the open house will be at helping you meet it.

Pick the Right Price

As with all homes, setting the right sales price when your home first hits the market is crucial.  Some people think you should set your price high at the beginning because they don’t want to leave any money on the table, and because they know they can always reduce the price over time.

The truth is that homes that are overpriced at the beginning usually sell below market value.  Obtain a home valuation from a respected Davie REALTOR®.  Armed with that information, you can set your sales price at a fair market value and realize a higher profit on the sale.

Create an Effective Marketing Plan

Marketing a luxury home requires attention to detail.  For example, hire a professional to take the photographs of the home, and have videos produced professionally.

Internet marketing is an important part of selling real estate.  In addition to listing your home on the MLS, it should be visible on social media sites and websites that specialize in showing homes for sale.

Networking is another critical part of a marketing plan, especially for a luxury home.  Since there is a smaller pool of potential homebuyers, the odds are that Davie REALTORS® know people who are looking in the luxury range, or they know other REALTORS® who do.  Don’t underestimate the Davie area’s “hidden real estate market.”

Selling a luxury home in Davie can be a very rewarding experience, especially when you have a top Davie REALTOR® working with you.  Choose a REALTOR® who knows the luxury market, someone who is good at setting a fair market price the first time.  It’s also helpful if the agent is well known and has a large network they can access to promote your home.

If you’re thinking of selling in Davie or any of the surrounding areas, consider the experts on Teri’s Real Estate Team for personal, professional and effective assistance.  Contact us at 954-242-8030 or online.

Best Realtor in Riverstone Davie FlIf you haven’t talked to the best REALTOR® in Riverstone Davie FL, you’re missing one of the Davie area’s hidden jewels.  Riverstone offers luxury waterfront estate homes and a lifestyle that can be as quiet or as active as you prefer.

The Riverstone Community

There are just over 300 Mediterranean- inspired homes in Riverstone Davie FL.  All but two of the homes are located on the water.  The tile roofs and paver driveways, tall arches and exterior design accents create an old-world atmosphere with a modern twist.

Entertaining is easy with the homes’ emphasis on outdoor living, including private pools and outdoor kitchens.  However, the community also offers a recreation area with three tennis courts, a basketball court and a party pavilion with its own restrooms for the convenience of your guests.

Lakes and canals run throughout Riverstone.  Many homes offer both a private swimming pool and beach access.  So, whether you want to play on the sand or lounge by the pool, the choice is yours.

For your security, the entrance to Riverstone has a guard gate that is manned on a 24-hour basis.

Riverstone in Davie FL Homes for Sale

You’ll find a variety of homes for sale in Riverstone.  Home sizes start with one-story single-family homes of approximately 3,000 square feet of living space.  For large families, you’ll find two-story homes that boast up to approximately 6,000 square feet.

Since Riverstone is a family-friendly neighborhood, most of the time you’ll find just as many baths as there are bedrooms.  There’s also plenty of parking for the family, since even the smaller homes frequently offer three-car garage spaces.  Exteriors are beautifully landscaped and very well maintained.

Riverstone homes welcome you when you first walk in with impressive foyers.  Many homes have open floorplans that lead to high-ceilings in the living areas.  Many homes have a gathering spot next to the kitchen for keeping an eye on the kids or staying in touch with guests while you’re cooking.

Kitchens in Riverstone are chef-inspired.  All the luxury amenities you’d expect, such as granite countertops, walk-in pantries, cooking islands and even open bars are available in most homes.  Kitchens in Riverstone homes are meant to be the center of activity with plenty of room for family and guests to roam.

Riverstone’s Splendid Location

People are attracted to Davie, Florida for a number of reasons.  It’s centrally located and family-friendly.  In addition, the schools are outstanding, the landscape is beautiful, and the Old West theme of the downtown area makes for a unique and quaint atmosphere.  You’re close to Fort Lauderdale’s big-city amenities and Atlantic Ocean beaches.

People who love horses and the outdoors are also attracted to Davie to take advantage of the miles of trails for runners and equestrians.  The city maintains lots of open space and parks where the trails weave through a very scenic setting.

If you’re looking for luxury living in a prime location, Riverstone is definitely an area to explore.  When you want to work with the best REALTOR® in Riverstone Davie FL, call us at 954-242-8030 or send an email.  Several members of Teri’s Real Estate Team can claim that title.

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Barn Doors?  In Florida??

Davie home decorPhoto by Artistic Designs for Living, Tineke TriggsDiscover farmhouse bedroom design inspiration

 

When you’re looking at Davie FL homes for sale, you might not expect to see barn doors on the interior of a home with a coastal or beach feel.  However, barn doors are a big trend right now, and there are many great ways to use them to complement the interior of your Florida home.

Barn Doors Have Many Uses

You might think of barn doors as the type of design that says “country.”  And, in the right setting, these doors do help to extend that type of interior theme.  But, depending on how you use barn doors, they can also fit right in to a traditional Florida design.

There are many reasons why barn doors are being used so often, including:

1. You can separate spaces without walls.

The trend toward open-plan layouts is very firmly entrenched.  People want to have a natural flow from room to room.  It helps when entertaining, and keeps the people who typically gather in the kitchen connected with those in the living room.

However, there are times when you may want to close off the office from the living room, or the dining room from the kitchen.  Barn doors are tailor-made for these types of uses because you can create separation without needing a permanent wall.

2. You can save space using barn doors.

Very often, installing doors can severely limit your options for furniture placement.  A standard door that swings open prevents you from placing furniture in its path.  Unless the door is opening into a very large room, leaving open space for the swinging doors can make the room look off balance.

Barn doors are mounted on the wall and slide along the wall to open and close.  This provides you with much more interior design flexibility.  You can almost think of them as the new French door.

3. You can use barn doors in virtually any type of interior design.

The hardware you need to install barn doors comes in every theme you can think of, from rustic iron to sleek chrome.  The material of the doors themselves can be anything from recycled barn wood in rich wood tones to painted shaker-style doors to frosted glass or metal-covered doors.

Imagine that you’ve spent quite a bit of time and effort to create the type of outdoor/beach look you want for your Florida home.  Now you want to make a big statement as you redecorate your master bedroom.  Picture creating a focal point in the room using barn doors for the closet made from a grey-bleached wood, reminiscent of driftwood you find along the shore.  Those doors would look fantastic in a Davie FL home.

 

Davie FL homes for sale offer something for everyone.  As local real estate specialists, we at Teri’s Real Estate Team can help you find the perfect home to suit your lifestyle.  And, if you’re selling a home, you can use our expertise to make sure you complete a profitable transaction.  Call us at 954-242-8030 or send an email for more information.

 

Sterling Ranch Homes for Sale in Davie FL

Photo compliments of KHovnanian

If you’re looking for new homes in Davie, Florida, you have several communities to choose from.  Sterling Ranch is a community that is located in Davie, but it’s just six miles from Ft. Lauderdale.  Homes for sale in Sterling Ranch give you the best of both worlds: an appealing country setting with easy access to big-city amenities.

K Hovnanian Homes is Building in Sterling Ranch

K Hovnanian is a well-known builder in South Florida.  The company builds homes “crafted with a legacy of quality,” and uses varied home designs in each of their communities.

Six home designs are being offered in Sterling Ranch, and the starting prices range from approximately $750,000 to $875,000.  The six designs can be customized with different elevations, and other structural options to make the home your own.

In terms of size, the homes range from approximately 4000 to 5000 square feet of living space.  You’ll have a choice of one- and two-story designs that offer up to four bedrooms and four bathrooms.  Some designs offer three-car garages.

Designer Interiors

Interiors of all the homes are finished with impeccable style.  Kitchens are fit for the chef in the family, with granite countertops and upscale GE® appliances.  Other interior touches can include recessed lighting, tray ceilings, raised-panel interior doors, unique 51/4” baseboards and a monitored security system.

The master suite will take your breath away with its large master bath.  There, you’ll find raised tubs, frame-less glass showers and granite countertops.

Low Maintenance and Energy Efficiency

You won’t need to spend all day watering the lawn – the yard is laid with sod and has full-yard irrigation installed.  The exterior elevations are complimented with elegant pavers for all the walkways, driveways and lanais.

Energy efficiency is a critical element of K Hovnanian’s construction.  You may have heard of the HERS® index which is how builders rate the efficiency of homes and offices.  As energy efficiency goes up, the HERS® rating goes down.

A typical new home will have a HERS® rating of 100.  The homes at Sterling Ranch have a rating of 60, and each home is inspected by a certified third party to verify that rating.

A Welcoming Community

If you love the outdoors and scenic lake views, you’ll love Sterling Ranch.  There are two lakes in the middle of the community where birds and other wildlife make themselves comfortable on the shores.  In addition, you’ll love coming home to the community, with the privacy and security of the gated entrance.

When you want to look at new construction homes, keep in mind that you should have your own representation.  The representative for the builder must put the builder’s interest first.

When you hire one of the local Davie REALTORS® on the Teri Arbogast Team, you’ll work with an agent who will negotiate for you, and who can even show you other communities if Sterling Ranch turns out not to be the best match for your lifestyle.

Ready to get started?  Call us today at 954-252-8030 or send an email for more information.

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Davie real estateYou’ve probably read articles about the “pitfalls” you might encounter when you purchase Davie real estate or properties in the surrounding areas.  The four things described below aren’t the only things you’ll need to consider, but if you follow these four steps, you’ll set your home search on the right path at the outset.

 

Things You SHOULD Do

1. Find the REALTOR®. You may think that REALTORS® don’t care about your best interest and are only out to sell you a house as quickly as possible.  And, I hate to admit it, but that is the goal of some real estate agents.  On the other hand, there are REALTORS® who love what they do, are successful enough to help clients at their own pace, and who take great pride in giving each client an outstanding experience.

Why work with a REALTOR®?  The home sellers have an agent representing them, providing market insight, negotiation skills and more.  Having a representative of your own will level the playing field when it comes to a home purchase.

In addition, working with an experienced REALTOR® will save you time and frustration, give you the local market information you need to make informed decisions and allow you to delegate all the details related to the purchase process.

2. Decide What You Want in a Neighborhood. Every neighborhood has its own personality, which is impacted by a number of factors.  For example, if you have school age children, one of your selection criteria may be the ranking of a neighborhood’s school system.

If you’re looking for a quiet environment, you’ll want to check on the location of typical noise-makers such as major highways, train tracks, schools, airport flight lanes, etc.  You will also want to check with local officials to identify any development that is planned in your favorite neighborhood.

3. Decide What You Want in a Home. If the world were perfect, you’d be able to find a home that fulfilled all of your hopes and dreams.  Of course, that’s not possible unless you build a custom home, and even then, you’d most likely need to make a compromise or two.

Start by creating a “must have” list.  If you really need four bedrooms, don’t look at three-bedroom homes.  The last thing you want to do is fall in love with a three-bedroom home, then find that the lack of a fourth bedroom creates stress for as long as you live in the home.  Identify the things you’re willing to compromise on, too.

When you look at homes, evaluate the homes based on “fixable” vs. “non-fixable” factors.  If you hate the paint colors, that’s an easy fix.  If you discover that the road in front of the home is scheduled to be widened to four lanes, that’s a non-fixable issue.

4. Get Pre-Approved. If you will finance the purchase of your home, getting pre-approved before you start looking at homes is a huge factor in avoiding frustration.  With a pre-approval, you can narrow your search to homes in the price range you can afford, avoiding the frustration of falling in love with a home that you can’t finance.

You’ll see another big advantage when it’s time to make an offer and close the deal.  Sellers will take your offer much more seriously if they know that your financing is secure.  You’ll also be in a better negotiating position because the seller won’t need to worry about the deal falling through due to financing issues.

Stay Tuned. . .

for the next Davie real estate advice post, where we’ll identify the four most critical things you should not do if you want to avoid frustration.  If we can be of assistance to you in buying or selling Davie real estate, call us at 954-242-8030 or send an email.  We’ll make sure you take the necessary steps to ensure a successful transaction!

Guaranteed Home Sale Claims – Are They a Gimmick?

Selling Davie Real Estate A gimmick is a trick used to attract attention, publicity or business. When a real estate agent advertises they guarantee to sell your home, that is definitely a gimmick and it can generate a lot of leads for the agent. The question is whether it’s a gimmick that’s good for you or just good for the agent.

How Do Guaranteed Home Sales Work?

You may run into several different kinds of guarantees. Here is an explanation of some of them, but I’m sure people are thinking up new approaches every day!

  1. A Short-Timeframe Listing Agreement. This is the simplest offer. Rather than entering into a 180-day agreement, the agent offers one for 60 days. If the house isn’t sold in that timeframe, the buyer won’t need to worry about whether to renew the agreement or not.
  1. Low- or No-Fee Agreement. In this situation, the agent agrees to lower or eliminate their commission if the home isn’t sold within a certain timeframe.  Guess they want you to feel better about not paying so much to get your home sold for too little.
  1. We’ll Buy It. Some agents agree to buy the seller’s home themselves if it isn’t sold within a certain timeframe.

Do Guaranteed Home Sale Offers Have Fine Print?

Yes, they do. And, it’s no surprise. If the offer didn’t protect the agent making it, they’d go out of business and no one would be making guaranteed home sale promises. Here are some of the ways an agent making this offer can be protected in the fine print:

  1. The Seller must agree to list the home at the agent’s recommended price.
  2. The Seller must agree to drop the price 10% every few weeks if no offers are being made.
  3. The Seller must agree to a final 10% price reduction if the house isn’t sold and the agent must buy it.
  4. The Seller must follow the agent’s recommendations for completing updates to the home.
  5. The Seller must agree to showings without notice or with very short notice.
  6. The Seller must work with the listing agent to buy their next home.

The only way this type of an offer can work for an agent in all cases is if the list price for the house is under market value. Sometimes an agent will identify a specific initial reduction, such as listing the home for 95% of what the market value is. Sometimes, the agent will just create a number without any clear indication of how it relates to market value.

In either event, the agent knows that homes priced under market value do usually tend to sell quickly. Home buyers can certainly spot a great deal when they see one, and someone will likely snap up an undervalued home. Is that good for you or just for the agent?

If you are desperate to sell your home quickly, and you don’t mind losing money, you can work with any agent and set the list price under market value. There’s no particular expertise required to sell a home that is underpriced. Add the listing to the MLS and that’s about all you need to do.

Another interesting fact is that according to experts such as the folks at Inman, sellers who contact an agent about a guaranteed home sale promotion don’t usually end up using the guarantee. Once they understand all the fine print, they don’t think the guarantee is worth it.

What Is the Alternative to a Guaranteed Home Sale?

Your other alternative is to work with REALTORS® who are good at what they do and who don’t need a flashy gimmick to get clients. Choose REALTORS® based on their track record and their ability to market your home effectively.

The real trick is selling a home in a timeframe that is realistic for your market, and at the highest price the market will bear. A REALTOR® who can do that will give you the best experience and the best outcome for your real estate transaction.

Interested in selling Davie real estate? Call us today at 954-242-8030 or send an email. We’re the real deal.

Davie real estate - selling your homeSelling your home can be the start to an exciting new adventure, but if you want to make sure that adventure is a good one, make sure you don’t set the wrong list price! How could you fall into this trap? It usually happens because you don’t have all the information you need.

 

Setting Your Home’s List Price without Research

Davie homes for sale that are overpriced historically end up for selling for less than market value. Homes that are under priced will most definitely sell for less than they are worth. You owe it to yourself to get the price right. Here’s what typically happens if you don’t do the research:

  1. You use a quick formula like price per square foot to determine your list price. Price per square foot is just about the worst way to set a home price. Think about two homes in the same neighborhood that are the same age and have the same square footage.One home was built with low-cost aluminum siding, the other home has the best quality money can buy. One home has inexpensive carpet flooring, the other one has real hardwood throughout. One home has inexpensive kitchen counter tops, the other home has all granite.I could go on, but I’m sure you’re seeing the problem. Just because two homes are the same size and in the same neighborhood, that doesn’t mean the price per square foot is going to be anywhere near similar. Any quick pricing formula is going to cause you problems.
  1. You set your list price based on what you need to buy your next home. The value of your home has nothing to do with the fact that you think it should have appreciated by $20,000 and you’re planning to use all of that appreciation as a down payment on your next home. If your estimate of appreciation isn’t accurate, you’ll set your list price too high or too low.
  1. You set your list price based on advice from a friend or real estate agent. Advice from a friend or even a real estate agent, unless they have the research to back it up, is just an opinion.
  1. You use your list price to test the market. You want to sell for the highest price the market will bear. But, if you use your list price instead of research to determine what the market will bear, you’re doing yourself a disservice.Typically what happens in this situation is that you price the home high and plan to drop the price if you don’t get any interest. This gets you right back into overpricing your home. And, there are very good reasons why that doesn’t work.

    For example, if your home should sell for $200,000 and you have it priced at $250,000, you won’t get the showings you need to find a buyer. Buyers looking for a $200,000 home won’t look at your home because they don’t believe they can afford it. Buyers looking for a $250,000 home will find yours lacking in comparison to the other homes they see in that price range. You may get some showings, but people who might actually purchase your home won’t see it.

    At that point, you’ll run into the problem of the house being on the market for a long time. Buyers will often assume that there is something wrong with the house and won’t want to consider it. That perception will get even worse as you lower the price time and again or take it off the market then put it back on again. In the end, if you really want to sell your home, you’ll end up selling below market value.

If you want to set your list price right the first time, give us a call at 954-242-8030 or send an email. As local Davie real estate experts, we can do the research and show you how to identify the list price that will get you the most for your house in the shortest amount of time!

 

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