Saturday, October 2, 2021 / by Capprice Kitchen
Buying or selling a home can be stressful, even in normal times. Right now, when the housing market is moving at a frenetic pace, both buyers and sellers are making quick decisions and are feeling extreme pressure. As the tension rises, it can be easy to overlook the end goal; right-sized home, relocation, dream home, etc. Try not to lose focus!
Facing a very low inventory of available properties, buyers have limited time to arrange to tour homes and knowing they must make a quick decision once they have. Buyers do not have the luxury of a second look or hesitation and often are competing against multiple offers, adding to the pressure.
Sellers are also feeling the challenge of the frantic pace. While it is nice to have multiple offers from which to choose, the fact that the offers are at times being made sight-unseen means that some of the offers may not be the buyer’s first choice and they could lose a “real” offer by cho ...
Sunday, September 26, 2021 / by Capprice Kitchen
It’s no secret that most of the country is experiencing a strong seller’s market. With more homebuyers than inventory, most sellers have been delighted to sell quickly and often with multiple offers above list price. Yet, some homes are still sitting on the market and these sellers are probably wondering why.
Here are a few reasons why your home listing may not selling in this Seller's Market:
1. Overconfidence – While many homes are being snapped up on day one, this does not mean you can avoid the basics of good marketing, professional photos, and open houses.
2. Overpriced – In a seller’s market, home prices do advance, but a dramatically overpriced home will still sit unnoticed.
3. Appearance – With low inventory, homebuyers will compromise on some issues, but properties in need of major TLC or extensive deferred maintenance will not hold mass ap. ...
Wednesday, June 9, 2021 / by Capprice Kitchen
The primary responsibility for the office of Property Appraiser is to produce a tax roll that is fair and equitable. Florida Statutes requires us to identify and appraise every parcel in the County to a “Just or Fair Market Value” each year. This is the starting point for Florida’s property tax system and the funding source for local government. In my forty plus years in the real estate and appraisal business, I have never experienced a real estate market like the one we are in currently. Almost every property offered for sale is receiving multiple offers the first few days on the market, resulting in bidding wars and sales prices above the original list price. The record level of appreciation is a direct result of limited supply and increased demand. It is simple supply and demand economics. Inflation has driven building costs to record levels, making existing homes more attractive.
We have a record number of people migrating to Florida from other states due to lock1 ...
Thursday, May 6, 2021 / by Capprice Kitchen
Are we about to see a repeat of the 2008 housing crisis? The answer may surprise you!
Today I’m sharing three reasons why we’re definitely NOT in a housing bubble!
Number One: Inventory Is Low!
When we talk about inventory in real estate, we’re basing that on the number of homes for sale compared to how many buyers are on the market. In 2008, there were WAY more homes for sale than there were buyers and when homes should have dropped in pricing, they increased! This meant that thousands of homes sat on the market because demand was low and they were overpriced. In 2020 and 2021, we’re seeing the exact opposite. We’re seeing more buyers than there are homes for sale and homes are naturally increasing because of supply and demand.
Number Two: Demand Is Supported!
In 2008, buyers bought homes out of fear that prices would skyrocket. With no concrete contributing factors, the house bubble burst. In this current ma; ...