“Hi neighbor, how much did you sell your home for?”
If you want to get the wrong value of your property, talk to your neighbors. When I speak to homeowners, I often hear the same story. They have spoken to a neighbor across the street and are being told they sold their property for “X” amount of money. Then, the homeowner follows up with a neighbor situated behind them. This neighbor also says that their property sold for a similar sum of money.
The homeowner then believes that their property is worth this magical “X” amount. At this stage, I immediately go to the county tax records. Ninety-nine percent of the time, the information provided by the neighbors are incorrect.
Now, I don’t believe that the neighbors are bad people who are intentionally trying to be misleading. My gut tells me that in most cases, these people are hyping up the results. As a way of appearing successful to others, they inflate the price. It’s human nature.
Long story short, If you’re trying to determine the value of your property by asking your neighbors, be sure to verify the data first so that you’re working with accurate numbers.
A simple way to do so is by calling a local real estate agent who can verify this information in no time. We can help you determine the true value of your home with accurate sold prices in your neighborhood. Contact us today to find out with no obligation!
I recently got off the phone with someone who insisted on making home improvements with the goal of increasing their home value. While home improvements do help the value of your home, it is not always the case.
Now, don’t get me wrong, I love updating my home when I have the resource to do so! Making improvements is beneficial in keeping the home updated with your current taste in décor. Moreover, it also helps keep your home in good conditions to decrease the chances of any major repairs. I even made a post onFour leading home projects everyone is doing.
Now, how does it affect your home value when it comes to
making improvements to sell? Well, if you are not careful on what you choose to
do on your property, you may break-even or even worse, lose money.
Break even or lose money?
As a homeowner thinking of selling your home, your goal is
to maximize profit! I mean, who does not want to make the most out of their
sale? As a result, most homeowners believe their home needs to be top notch to
compete in the housing market. Therefore, they start doing home improvements to
make it the most presentable home possible.
Usually, what happens is that homeowners get carried away and
truly believe these improvements will make a huge impact on their home value.
The reality is, most times, it will not.
Depending on the updates and repairs, it may not be worth the work when it comes time to sell. In short, homeowners realize that the updates done did not deliver to their expectations and did not impact the buyers to pay more for it.
Why will home buyers not pay more for my home improvements?
Look, we all have great memories and a certain attachment to our homes. The improvements we make have always been with our family in mind. In the end, what we think of our own home is not what the buyers walking through will think. What they are thinking is not about the present, but of the future. They are thinking of how this home will fit their family needs and how to make it their own. Buyers will always want to change something or improve on something no matter how perfect we think our home is.
Therefore, the best way to approach this is by detaching
from the home. Looking at the home like it was a product. So, with that in mind,
do what is necessary to the property and not what you “feel” is the right updates
to do.
If you are unsure of what home improvements to make to
maximize the amount of money you make on your home when it’s time to sell, do
not hesitate to reach out and ask me. I am happy to assist you in making the
right decision!
Recently, I am encountering more and more clients that are considering moving away from Miami. In the past, I have helped a handful of my clients sell their home to move out of Miami in pursuit of a less stressful lifestyle. Today, this number of clients have increased.
There is no question that Miami is becoming an expensive city
to live in. As a result, it is becoming, for many, a stressful financial and
living situation. Keeping up with the mortgages and property maintenance is literally
a full-time job. In addition, a family to support and provide the best we can.
Therefore, if you see yourself in a similar situation, rest assure, you are not alone. Similarly, these clients of mine are tired of waking up every morning to deal with the daily grind: morning and evening rush hour traffic, rushing to get to places, keeping up with the monthly bills, making sure to pay the mortgage on time (for most of your life), keeping your family happy. I think you get the picture.
Believe it or not, moving away from Miami is more feasible than you think. It is not a distant or unreachable goal. Most of my clients do not realize that they have enough equity on their home to start a new life elsewhere. It can be a small move, within the state of Florida, or a big move, to another state. Regardless, I have had both scenarios and in both cases my clients have agreed that it has improved their quality of living.
Keep in mind, the standard of living in most places is a fraction of what it is in Miami. Therefore, liquidating what you have here, in Miami, can work out for you. Not only can it be a feasible opportunity, but also the start of a less stressful lifestyle. Not to mention, improving the quality of time with your loved ones.
Improving your quality of life
In the end, it is the reason why we work long hours and grind every day. To give our families the best life they deserve. Imagine doing so without having to sacrifice most of your time, but instead, spend time with your loved ones. It can happen to you too.
If you have been thinking of the possibility of moving away from Miami or even curious to know if it can be a possibility, do not hesitate to Contact Us Today!
Many times I have been in a situation where I am representing the seller and a buyer comes and tells me “You know what Mario? We are not going to offer a single penny over this offer amount. Your client can either take it or leave it!”
First of all, do not take this ultimatum to heart. Buyers will say things like this to pressure you to accept an offer you really do not want to. Therefore, how can you make more money when someone makes you this kinds of offer and tells you this is their final offer? You counter back.
Counter back!
I proceeded to call the seller and instead of telling the seller what the buyer told me word by word, I advised my client to simply counter back the offer. The reason I do this is that by me telling the seller the buyer’s ultimatum all I am doing is allowing the “bully” behavior reach my client. I do not want to add burden or additional stress to my client, that is why I am here, to help make this process as smooth as possible.
Therefore, what happens after I present the counteroffer to the buyer? Well, at times the buyer will complain and whine about it, but in the end, it is all about negotiation. Negotiation has very little to do with what people say and it is more about controlling your emotions.
Furthermore, most often then not, the buyer will counter the sellers’ counter offer. If the buyer is a serious buyer, they may up their initial offer and hope to meet in the middle. Or if the price is at market value, accept the sellers’ counter.
As long as you can control your emotions during this process, your chances of winning are high.
Have questions or need further advice on how to handle these “bully” buyers?
