Yes, you could. According to the FBI’s 2018 Internet Crime Report, Americans lost roughly $150,000,000 in real estate scams. One of the most popular is real estate wire fraud, and it doesn’t matter how smart you are, it’s easy to get taken in. Read on to learn the things you can do to protect yourself.
Let’s say you’re a cybercriminal and you want to find out who is in the process of buying or selling a home. How difficult would it be? You could look on the MLS, Zillow, Trulia, and any other website that publishes things like listings for Davie homes for sale.
Since you’re a great hacker, you can discover who is involved in the transaction. Then, you figure out how to hack into the email account of one of those people. Real estate transactions have a lot of potential for hackers because there are several people involved. Besides the seller and buyer, there are attorneys, title companies, mortgage lenders, and two different real estate agents.
Once you can hack into those email accounts, you can wait until the time is right. Typically, hackers will stay undetected while they monitor the email exchanges about the closing for the house. When the closing is about to happen, the cybercriminal jumps into action.
At just the right moment, the hacker will send an email to the homebuyer, giving them the account number where they should wire their closing costs. If you’ve bought homes before, you know that amount could be $60,000, $100,000, $200,000 or more. Now, assume you’re the buyer.
You see an email from your mortgage lender, attorney, or real estate agent. It looks like the others you’ve received. The logo is right. The signature is right. It looks like business as usual. So, you naturally want to do everything possible to make the closing work smoothly, so you shoot off a wire transfer as requested. The only problem is that you just gave that money away to a cybercriminal.
And, you’re not alone. These types of scams happen to everyone from first-time homebuyers and experienced professionals.
All real estate related professionals need to keep track of their network security. Anything that can be done to improve the security should be done. Using the cloud for email and other networks can help by putting a distinct focus on security. But, as we all know, cybercriminals are getting smarter all the time.
It’s up to all of us, including buyers and sellers, to be vigilant. One person discovered that the email they received was a fraud by noticing that the email addresses on the email giving the instructions were off by one letter. That helped him save the $60,000 that would have been lost.
We should all be looking at our emails to make sure they’re legitimate. There are all kinds of scams that start with a fake email.
In addition, we should be confirming any request involving money, including wire transfer instructions for a home closing, with the sender of the email. It’s sad, but it’s our world today. The best option is to avoid heartache with a simple double check.
If you’re thinking of buying or selling a home in Davie or the surrounding area, you can trust the members of the Teri Arbogast Team. Our clients tell the story. We’re educated, experienced and can give you the service you deserve to make sure your real estate transaction goes smoothly. Call us at 954-242-8030 or send us an email. We’re looking forward to serving you.
If you’re anything like me, light bulbs aren’t high on your list of things to think about. So, you may be suffering the same pain that I am trying to buy them. Here’s what you need to know to get up to speed.
Actually, the U.S. stopped manufacturing incd bulbs on January 1, 2014. That’s because Congress passed a law in 2007 about energy efficiency, and incd bulbs stopped meeting the federal requirements as of 2014. But, we all know that incd bulbs were available in stores long after the date when they could no longer be manufactured.
Around the same time, manufacturers tried to sell us on buying Compact Fluorescent Light (CFL) bulbs. Those bulbs are just small fluorescent lights, and anyone working in an office knows that fluorescent lights can drive you crazy. They do use less energy and last 7 to 10 times longer than incd bulbs, but they’re weird things. Once you turn on a CFL bulb, it takes a while for them to actually light up. Besides that, you can’t dim them, and you need to recycle because they contain mercury.
Finally, the Light-Emitting Diode (LED) bulbs were introduced to the market. Luckily, those bulbs light up right away when you turn them on. They don’t get as hot as an incd bulb. In addition, they use a bit less energy than CFLs and they say they last 20,000 to 50,000 hours.
In fact, the last pack of LED bulbs I bought are reputed to last 13 years. I just hope I can find the bulbs that were left in the package when the first ones I used burn out. The LED bulbs do cost more initially, but with a 13-year life, I imagine it won’t hurt my budget.
LED bulbs measure the brightness in terms of Lumens, not Watts. Right now, the packages have a translation for you, but I imagine that won’t last forever. So, just to simplify things, here’s a conversion chart you may find useful.
| Incandescent Bulb Wattage | LED Bulb Lumens |
| 45 | 675 |
| 60 | 900 |
| 65 | 975 |
| 75 | 1125 |
| 100 | 1500 |
| 125 | 1875 |
| 150 | 2250 |
Those may not be the exact lumens you see on a package of light bulbs, but it will give you a general idea of what you’re looking for. So, if you need a 100-watt bulb, just buy an LED with approximately 1500 lumens. Easy, right? If we convert to the metric system, this might seem easy. But, I don’t like having to learn something new just to buy a light bulb!
Here’s an example from Home Depot of the types of LED bulbs you can buy:
If you need a bulb that works in a fully enclosed case, make sure that you buy an LED bulb that is fit for that purpose. You’ll also need to buy carefully if you need a bulb to work outdoors, with a motion sensor or with a photocell.
I hope this information is helpful to you. And, if you need information about buying or selling Davie real estate, be sure to give me a call at 954-242-8030 or send us an email. Our team is knowledgeable, experienced and passionate about working with buyers and sellers in the area. We’ll make sure you have the information you need to make informed decisions. Just take a look at what our clients say about us. We’re proud that we have 43 Google reviews and a 5.0 rating We’re the best Broward County REALTORS® in town!
Everyone needs home insurance, but no one wants to need to use it. You know that sometimes bad things do happen and you may need to file a home insurance claim. Storm damage can destroy a home. Sure, maybe it’s just a tree crashing through your roof, but the wind and water damage will extend to many other parts of your home. Besides that, the craziest things can cause a house fire.
I heard of one situation where the homeowners were away when their mobile home caught on fire. It was parked close enough to their home to allow the flames to leap onto their roof. Before the neighbors saw the fire, called for help, and the firefighters put out the fire, their home was a total loss.
You may think it will never happen to you, but so did everyone who has had to make a substantial home insurance claim! These tips will help you manage the claims process if the unthinkable ever strikes.
Yes, you probably know you should have a home inventory, but you’ve been putting it off – probably for years. It’s a pain in the neck, and anyway, nothing bad is going to happen to your house, right?
What you’ll find if you ever do have a claim is that one of the first things the home insurance claim adjuster will ask you for is an inventory of what was lost. You’re not going to remember everything, and you certainly won’t know when you bought it and what the estimated value of it is.
Maybe the easiest way to create an inventory is just to stand in the middle of each room and take a 360-degree video of everything in it. Then, you can use the video to make a list of the items, purchase date, and value. If you’re a receipt-keeper, lay them out on a table along with your list and take a video showing each one.
Once you have the inventory, make sure you keep it in a safe place outside of your home. There’s nothing as disappointing as having an inventory, then realizing it was destroyed in the disaster. You can upload the video to a cloud service like Dropbox.
You may not feel like talking to anyone if you’re standing in front of your home looking at the damage, but it’s important to reach out to your insurance company to start a home insurance claim as quickly as you can. The company will assign an adjuster to work with you to evaluate the damage. If you don’t have a way to document what you’ve lost, you may not get the coverage you need to replace or rebuild.
Verify the Identity of Everyone Who Contacts YouWhen the adjuster arrives, there’s nothing wrong with asking them for their identification. That goes for contractors who may appear to start repairs. Unfortunately, there are unscrupulous people who will masquerade as your adjuster to see if there are valuables they could steal while you’re upset, and your home may be vulnerable.
The same holds true for contractors who may appear at your home saying that the insurance company sent them. Very often, these people will look at the things that need repairs, ask for a cash down payment, and then disappear.
It’s a good idea to keep track of all interaction you have with the insurance company. Note the date, time, and the name of the person you speak to. Using email is a great way to keep a record. For example, if the adjuster clears you to start making repairs, get that in writing, also.
Keeping a record helps you if there’s ever a question. And, if the insurance company changes adjusters, you’ll have the history to bring that person up to date.
You can hire a public adjuster to safeguard your interests. A public adjuster works for you, not the insurance company, and you could end up with a better settlement with another professional involved.
It’s the same as in the real estate business. If you’re buying a home, you don’t want to work with the listing agent since they are working for the homeowner. Getting your own representation is just good business.
If you decide you’d like to investigate hiring a public adjuster, contact the National Association of Public Insurance Adjusters. They have a membership list and can provide you with insight on the process. As with any professional you hire, make sure to get references, check the adjuster’s experience, and if your state requires it, confirm that the adjuster has a license.
Your home insurance claim adjuster isn’t out to get you. But, they are responsible for protecting the interests of the company. It’s a business for them, and you need to treat a claim as a business transaction, also.
If you have other questions about home insurance, feel free to contact the Broward County REALTORS® on the Teri Arbogast Team. Call us at 954-242-8030 or send an email for more information.
You’d think it would be a simple situation. If the buyer really wants one of the Davie homes for sale, they may decide to go over list to get it. The seller is delighted to have such a high offer. They’ll probably accept without a second thought. But, there’s more to it than that. Here’s what you need to know about over list price transactions.
Offers come in over list price when there is a lot of competition among buyers in the real estate market. When there is a lot of competition among buyers, it’s called a Sellers’ Market. That’s because there are many more homebuyers looking to buy than there are homes for sale. Therefore, buyers must compete for the homes that are on the market.
One of the industry indicators to determine when there is a Sellers’ Market is the Months of Supply, also called Inventory. It indicates how many months it would take for the houses on the market at any point in time to sell.
That indicator is based on how long homes are taking to sell. Here’s an example. Let’s say that homes are selling at a rate of 10 homes per month, and there are 50 homes for sale. That indicates a 5-month supply of homes for sale.
If there are less than 6-months of supply, sellers have the advantage. If there are more than 6-months of supply, buyers have the advantage.
The Miami Association of REALTORS® publishes real estate market data for Broward County, which includes Davie. The latest figures are from the month of December 2018. The single-family homes in Broward County have 4.4-months of supply. Townhomes and condos have 5.7-months of supply.
Given those figures, you can see that Davie is experiencing a seller’s market. That doesn’t mean that every homeowner is going to get offers over list price, but it’s more likely. In fact, in December, homes were selling at a median percent of 95.4% of the list price. Therefore, it’s possible that some buyers did make offers over list price.
The one thing that can stop a transaction in its tracks is when the buyer is obtaining financing and the appraisal comes out below the offer price.
For example, let’s say that the seller listed the house to sell at $300,000 but a bidding war among potential buyers drove the winning offer to $330,000.
Then, as the buyer’s financing proceeds, the bank sends out an appraiser. Let’s assume that the appraiser comes back with a value for the house of $310,000. Now, there’s a $20,000 difference between what the bank says the house is worth, and what the buyer offered. One of two things has to happen.
Neither the buyer nor the seller is going to be happy with this situation. The seller may think that they should be able to get the $330,000 price in a hot market, and may not want to lower the price. The buyer may not have another $20,000 to put into a down payment.
The buyer and seller need to come to an agreement on how to handle the $20,000. If the buyer has the money, and thinks the house will appreciate quickly enough to make it financially feasible, they may agree to increase their down payment.
The seller may be ready to move and may not want to negotiate a new deal. In that situation, the seller may agree to accept the lower price.
Working with a professional real estate agent with excellent negotiation skills comes in handy when something like this happens. It’s much more effective for an objective third party to negotiate on your behalf in an emotionally charged situation.
The moral of the story is that both the buyer and seller need to go into an over list price transaction with a realistic outlook. It might work out perfectly, or it might put a monkey wrench into the works.
If you’re thinking of buying or selling in Davie, make sure you work with an agent who is knowledgeable about the local real estate market. And, someone who can reduce your stress level by handling negotiations expertly. The members of Teri’s Real Estate Team can help. Give us a call at 954.242.8030, or send an email. Let’s get to know each other and talk about your goals and how we can help!
Do you love your dog? There are many people in Davie who do. And, luckily enough, there are Davie Florida dog parks all around the area!
This dog park is located in the City of Plantation, just 3.5 miles from the center of Davie. It’s a place where you can meet your friends who are dog lovers themselves, and give both you and your pet some recreation time.
The Park hosts the local Police Force’s Plantation Canine Unit. Three different activity areas on five acres of land give you and your pet a variety of things to do.
One leash-free run area is reserved for large dogs where they can run, play and make friends. There’s another place for smaller dogs, too. The weight limit in that area is 25 pounds or less. You can also visit the exercise area that can help you do some agility training.
The quick 6-mile trip from downtown Davie is all you need to enjoy this newly renovated dog park. It’s a popular place for local dog owners to gather. You’ll find two play areas, designated for small and large dogs. There are benches for owners to relax and watch their dogs run or try the obstacles for them to conquer. The Annual Bow-Wow Ween Costume Contest is held in the Park, too!
Dr. Steven Paul, a local veterinarian, founded this two-acre park. It’s one of the first dog parks in the state, having been completed in the early 1990s. The park is free to use, and dogs of all sizes are welcome. There are public restrooms, and poop bag dispensers in case your forget yours. Your dog can enjoy off-leash areas, an agility area, and water is available.
The Barkham dog park is located in the Markham Park in Sunrise. You will need a pass, which you can purchase at the Markham Park Office. The park has the distinct honor of being voted a Broward Family Favorite for 2018. The Broward Family Life Magazine sponsors the vote every year.
The park covers a three-acre fenced-in are just west of the entrance to Markham Park. There are sections for large dogs and small dogs to play leash-free. For the people, there are asphalt walking or jogging paths, and three shelters. One of the shelters has fountains that provide cool water for the humans, and dogs have their own fountains in some areas.
Another excellent amenity is the dog wash – just in case Fido gets dirty. But, of course, that would never happen, right?
Broward County has a number of parks that aren’t strictly for dogs, but they are dog friendly. You can see a list on the County website.
In addition, Cooper City opened two new dog parks in July of this year. Read more about it at the Sun Sentinel.
Be Dog Park WiseYou should check the rules for a dog park the first time you visit. Different cities may have different rules. In general, these are the things that you can do to keep dog parks safe for all the two and four-legged visitors:
Our pets are important to all of us. Davie Florida dog parks are great places to socialize your dog to other dogs and other people. Staying alert will make everyone’s day a happy one.
Speaking of happy days, if you’re looking to buy or sell a home in Davie, contact one of the top Davie REALTORS® on the Teri Arbogast Team. Our local market knowledge, real estate transaction expertise, and caring for our clients means that you’ll continue to have happy days right through the closing. Call us at 954-242-8030 or send an email for more information.
You probably read the first entry in this two-part series on home seller tips, Don’t List Your Home Until You’ve Checked These Home Seller Guidelines. This post will wrap up the list of thing home sellers need to do before they list their home. Addressing the things listed below will take some time and effort. However, you’ll be glad you followed the guidelines because you’ll get offers more quickly and at a higher price.
If you have done any renovations or updates to your Davie or Broward County home, make sure you have permits for the work. If you hired a licensed contractor, that person should have obtained a permit to complete the work. Make sure you have proof of the permit in your possession.
If you did the work yourself, or your contractor didn’t obtain a permit when it was required, you could be facing a serious problem when you sell your home.
Permits are required for a wide range of things in Broward County. Here are some examples:
You can get more information on permit requirements at the Broward County website residential permit pages.
Here’s the problem you face if you don’t have the permits you need. When your buyer arranges for a home inspection, the inspector will be able to identify things that weren’t an original part of the house. If you can’t produce permits where they’re required, the buyer:
Then, the problem will become your problem. Most buyers won’t buy a home that doesn’t have the required permits. The buyer will typically ask you to obtain the permits, and pay to bring the renovation up to code if necessary.
You don’t want to be in this position. Not only would your closing be delayed, but you may be unable to sell your house.
It’s critically important that you have the required permits for anything you did to the house. If you don’t, your best strategy is to correct that situation before you put your house on the market.
Home Seller Tips #2: Remove any evidence of pets or kidsYou may not notice the “doggy smell” in your house, or the damage done when kids have bounced balls off the walls. But, buyers will. You need to correct those problems before you list. It may mean cleaning or replacing carpet, or doing some paint touchups.
Regardless of what you need to do, the advantages you’ll have when you sell will outweigh any time or money you spent fixing these issues.
A buyer’s first impression is the one they will usually take away with them. If it’s obvious that the last time you updated your house was in the 1990’s, you might want to hire a professional stager to do an evaluation.
The stager may make recommendations to add things you can rent in the short-term, or just rearrange things to highlight the best features of your house. It will work wonders if your house compares favorably with other listings in your area.
Garages are one of those areas that seem to fill up with stuff when you’re not looking. Some of it may things you need to keep, but some things you might not really need.
Take this opportunity to clean out the garage. If you do that and the garage still looks packed, put everything you don’t absolutely need in the short-term in a storage unit.
Overflowing garages give the impression that there isn’t enough outdoor storage space, which can be a deal breaker for someone who wants a multi-functional garage.
Home Seller Tips #5: Take care of minor repairs and pump up your curb appealYou’ve probably read articles that tell you to eliminate squeaky doors, scraped floors, and dirt. And, those articles are correct. Keep the house white-glove clean until it’s sold, and don’t let little annoyances drive buyers away.
Also, think about the house’s curb appeal. You don’t have to create a jungle in the front yard, but if your bushes or flowering plants have seen better days, you’ll be glad you took the time to replace them. And, sometimes even painting your front door with a pop of color makes the view of your home from the street much more appealing.
Selling your house takes some careful planning if you want to get top dollar in the shortest amount of time. Your Broward County REALTOR® should be able to help you turn your home into a buyer magnet.
That’s the goal of every agent on the Teri Arbogast Team. We’re a group of full-time, professional agents who know the market and how to get homes sold.
If you’re thinking of selling (or buying) in the Davie/Broward County area, call us at 954-242-8030 or send an email. You’ll be glad you joined our family of happy clients!
Some people think that all they need to do to put their home on the market is call their Davie REALTORS. Those people will have a harder time getting their home sold quickly and at a market price. If you want to sell your home with the least amount of stress, make sure you check the home seller guidelines below.
If you’ve lived in your home for relatively long period of time, you’ve probably grown fond of it. While you have reasons to move, you may still hold your existing home close to your heart.
This will make the entire selling process more difficult, and at times, impossible.
For example:
Consciously stop thinking of your home as “yours.” Once it goes on the market, it’s just a product you’re selling. And, you can look forward to your new home becoming your next love.
You know about many of the things that need to be fixed in your home. Those things may include peeling paint, scuffed floors or very worn carpeting.
There may well be some problems that you’re not aware of. And, that’s a problem.
In the State of Florida, there have been lawsuits about hidden problems. The Florida Supreme Court ruling indicated that if there are problems that affect the value of the property that aren’t readily seen, the seller must disclose them to the buyer.
Another ruling by the First District Court of Appeals indicated that the same ruling noted above also applies to homes that are sold “as is.”
That means that you could find yourself in the middle of a lawsuit if you don’t check on the condition of your home. The only safe way to do that is to arrange for a pre-listing inspection. That inspection will point out anything that must be addressed, or at the least, disclosed to a buyer.
Your sale will go much smoother if you fix any problems found. Your agent can help you determine which things you might be able to leave for the buyer to address, and which will be deal breakers.
We’ve talked about the difference between personal property and fixtures before. Just to review, in the State of Florida, there are three terms you need to know:
The problem is that gray area where there are fixtures that you consider to be your personal property. A lot of confusion, frustration, and sometimes lawsuits, can occur if you and your agent aren’t clear about fixtures that you consider to be personal property and want to take with you.
Here’s an example of something you might want to take with you:
Often, the best thing to do as the seller is to replace those fixtures you want to take with you before you list the house. If that doesn’t happen, then talk to your agent about how to let the buyer know if there are fixtures that you are excluding from the sale.
The same type of communication should take place for things that you might typically take with you, but you don’t want them. Let’s say that you’ve purchased a new refrigerator that fits perfectly into the kitchen in your new home. You should let the buyer know that the refrigerator is included in the sale.
These are just a few of the things that should appear on your “Home Seller Guidelines.” Don’t miss part two of this series.
And, if you are thinking of selling your home, make sure you work with agents who know all about how you can make the sale of your home a happy one. Contact us at 954.242.8030 or send an email. We’ll use our market knowledge and skills to help you sell quickly and at the highest market value!
If you’re buying real estate in Davie, Florida, there may be a Home Owners Association (HOA) in the area, regardless of whether you’re buying a single family home or a condominium. A Florida HOA will have an impact on your enjoyment of your home and your pocketbook. Therefore, it’s important that you investigate the HOA before making any final decisions about your purchase. Here’s what you need to know.
If you live in a community that has amenities used by everyone in the neighborhood, such as swimming pools and security gates, you probably will have an HOA that is responsible for maintaining the community’s assets. If you live in a condominium or townhome communities, there is usually always an HOA.
A board of directors consisting of volunteer property owners runs the HOA. Other property owners in the community elect the board members. The HOA itself is regulated by the Florida Homeowners’ Association Act. The board of directors must ensure that the operation of the HOA complies with that legislation.
Other responsibilities of the board include protecting the value of the homes and community common areas, enforcing the covenants and restrictions that are in effect, and collecting HOA fees.
The covenants and restrictions are written rules that all the homeowners have agreed to and will follow. The fees are used to do regular maintenance of the common property, and a portion is put aside as a cash reserve for more major repairs.
Before purchasing a home in a community that has an HOA, you want to be sure that you trust the operation of the HOA and can abide by the covenants and restrictions that are in place.
Recurring Fees: The most common HOA fee is the regularly assessed fees. Typically, these fees are due on a monthly or quarterly basis. Find out what the fee is, how it is determined, and how often the fee has been raised in the past. In addition, make sure you understand what the fee covers and what it doesn’t!
Special Assessments: When the HOA needs to spend money that isn’t in the budget, the Board may call for a Special Assessment. For example, let’s say that your community pool has a major problem that is going to require a major repair. If the money isn’t in the budget, a special assessment might be the only way to make the repair in a timely fashion. Find out how often special assessments have been used in the past, what the amount was per owner, and whether there are any special assessments currently under consideration.
The Reserve Fund: Some repairs or unexpected expenses can typically be paid using the Reserve Fund. Find out how the HOA manages that fund.
If recurring fees are raised often, be sure and ask why. If the board isn’t managing costs well, they’ll need to raise fees more often. If special assessments are used frequently, it may indicate that the HOA isn’t managing its reserves well, or is not planning ahead to be prepared when more major repairs are going to be needed.
You need to know what the rules are and whether you can abide by them. Does the HOA prohibit the fence you want to build for your dog? Can you paint your home any color you choose? You may be surprised at how unreasonable some of the rules may seem. But, you can’t underestimate the unreasonable things that some homeowners might do if there weren’t a rule against it.
Find out how the HOA enforces the rules. For example, ask if they have the right to fine you or put a lien on your home. If the HOA doesn’t currently allow fences, for example, is there a process for asking for a variance? Can a majority vote by the homeowners change the rules?
Keep in mind that most HOA rules are there to protect the value of all of the homeowners’ property. You may agree that you don’t want to live beside a hot pink home. But, if it looks like you can’t abide by the rules, you need to search for homes in another community.
There’s nothing worse than moving into a new home only to discover that it doesn’t follow the covenants and restrictions of the HOA. In that case, you’re the one who would be responsible for making the required changes.
Don’t assume that the Florida HOA in the area where you want to buy will be the same as the one in the area where you live currently. Each HOA has its own personality. If its personality and yours don’t get along, you won’t be happy with your new home. Always take the time to research an HOA carefully before you finalize a home purchase.
Speaking of purchasing a home. . . If you’re looking for a Broward County REALTOR®, we hope you’ll give us a call at 954-242-8030 or send us an email. Our team is knowledgeable, experienced and passionate about working with buyers and sellers in the area. We’ll make sure you have the information you need to make informed decisions. Just take a look at what our clients say about us!
Spring is here and many homebuyers are going to be looking at Davie real estate over the coming months. If you’re going to be looking for a new home, there’s one thing you’ll soon discover if you didn’t know it already: The home of your dreams isn’t going to meet all your needs and wants.
Unless you build a custom home, every home you look at will likely be missing something on your list of needs and wants. You’ll find that you can adjust your list, but some things aren’t worth the compromise. The tips below will help you make the best choice.
Sometimes it’s easy to fall in love with a house before you consider if it’s in the best location for your lifestyle. You can change many things about a house, but location isn’t one of them!
If you had your heart set on a walkable neighborhood, you’ll get frustrated over time if you buy in a sprawling suburb. If you talk yourself into the fact that you’ll get accustomed to the noise of airplanes taking off, you’ll start to resent your location. Remain firm on what you want in terms of location.
People look for turnkey homes for a number of reasons. Some people wouldn’t recognize a hammer if they saw one, and they know that renovating isn’t their forte. Other people may have done renovations before and know that they hate it.
You may talk yourself into thinking that a renovation won’t be that bad, but you may change your mind. Unfortunately, once you’ve purchased the home, changing your mind isn’t really an option.
If you’re comfortable with a 30 minute commute to work, don’t even look at homes that would require an hour of travel time each way. The typical justification here is this: The commute won’t bother me because of all the great things I’ll see in this house when I get home. That state of euphoria isn’t going to last forever, and may not last after the first few weeks.
If you wanted to buy a 2000 square foot home, don’t be tempted by one that is 1600 square feet. Sure, the kids would be able to share a room, but will they do that without killing one another? And, what about as they get older and privacy becomes of prime importance?
On the other hand, if you fall in love with a 3000 square foot home, you may not think about the time required to maintain it, the cost of heating and cooling, or the high property taxes. However, those things can quickly turn into burdens once you move in.
It’s easy to justify going over budget. You could calculate how much more it would cost you per month. And, while an extra $100 per month may not sound like much initially, it often makes an uncomfortable difference later on.
People with that philosophy often find themselves “house poor.” They may have things they want to do or purchase that won’t be possible with a higher mortgage payment. In addition, a more expensive home often costs more to maintain, and property taxes will be higher.
Make sure you find the best home for you and your family by starting out with a list of needs and wants, and finalizing a pre-approval for a mortgage. Once you have that foundation, make sure you stand firm on your “needs” and only compromise on things you want, or that would be nice to have.
If you’re planning to buy Davie real estate, you’ll find that there are a lot of things to do in Davie, including the Everglades Day Safari, the Hard Rock Hotel & Casino, nature centers, and much more. Make sure you get the guidance you need to find your dream home. The local Davie real estate agents on the Teri Arbogast Team know the market and can help you stand firm on those issues you really shouldn’t compromise on!
It’s a proven fact that the majority of homebuyers start their home search online. One of the more well-known sites for home information is Zillow. Zillow provides a range of tools for homebuyers, including Zestimates, which are Zillow’s best estimate of a home’s value. Should you make decisions based on a Zestimate? Here are the things to consider.
Zillow uses an automated system to prepare estimates for over 100 million home in the U.S. Given the sheer volume of estimates it tracks, Zillow must use a calculation based on a range of publically available information that results in an average price.
Data sources used for the estimate include MLS home listings, county tax records, and recent sales in the target home’s area.
Zillow is open about the accuracy of its Zestimates. For example, Zillow explains that half the home values are within 5.4 percent of the selling price, and half are off by more than 5.4 percent. That means that half of the $200,000 homes on the site could be valued at roughly $190,000 on the low side or $210,800 on the high side.
Let’s say that the half that are off by more than 5.4 percent are actually off by 10 percent. In that case, the $200,000 home could be valued at $180,000 on the low side or $220,000 on the high side.
There are many reasons why the estimate could be inaccurate:
The biggest problem is that homebuyers and sellers tend to take the estimates they see on Zillow and other real estate websites as fact. They don’t know about information like this and Zillow doesn’t make it easy to find.
Homebuyers may plan on making a ridiculously low offer on a home, and home sellers may plan to set an unrealistically high listing price for their home. Then, when a professional real estate agent gets involved, the homebuyers and sellers are often presented with conflicting information.
Real estate agents are very familiar with Davie FL homes for sale, the neighborhoods in the area and the real estate market. The comparative market analyses they prepare take many factors into account that the automated systems don’t.
The advice I give to my clients is that they can use websites like Zillow to see lots of information, but that they need to take estimated home values as a very broad guideline. They need to realize that the home value estimates are most likely off by tens of thousands of dollars.
In addition, I recommend that clients use a home search that comes right from our local MLS, like this one. Searching the MLS gives you the most accurate information available, and you can simplify your search by setting up your own search account.
Using this account, you can save homes you like as favorites, and get emails as soon as homes that meet your criteria hit the market. You can also save searches so you don’t need to select your criteria every time you visit the site.
If you have questions about buying or selling home in the Davie FL area, the experts on the Teri Arbogast Team can help. Call us at 954-242-8030 or send an email!
We specialize in Davie FL homes for sale, and Broward County homes for sale in the Cooper City, Coral Springs, Pembroke Pines, Plantation, Southwest Ranches, Sunrise and Weston communities.
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