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Time in The Market – What’s Your Home’s Equity?.

2016-09-15

Time in The Market – What’s Your Home’s Equity?

The fourth quarter is here and with it the last wave of buyers for the year. It’s the time when corporate relocations and new arrivals into town are looking for their home in time to get the tax benefit it brings for this fiscal year. It’s also when the locals are selling in order to move to the right size home.

One common reason to not list your home in the fourth quarter is that guests will arrive for the holidays and the home should be in mint condition. So, if you still want to be in your new home before the end of the year ask your agent to not have any showings on the days where you’ll have guests. No reason to put off your move. You may have to change plans on where to spend Thanksgiving though, because homes that are priced at fair market value are selling quickly, usually within 60 days in our market.

According to Lawrence Yun, Chief Economist of the National Association of Realtors “The primary driver in the increase in sales is more homeowners realizing the equity they’ve accumulated in recent years and finally deciding to trade-up or downsize”. There is positive equity nationwide with 92% of the homes. Further, there is “significant equity” in 74% of the homes in The United States. Those are homes that have greater than 20% equity according to Fannie Mae & CoreLogic.

Many owners do not realize how much equity has built up and are holding back on moving because of that perception. The median years of homeowner tenure before moving has risen from 6 to 9+ years in the country (Forbes). This is creating a natural pent-up seller demand and the trend seems to have settled at 9+ years. How long have you been living at your current home? The question really is where do you want to live next? The market is stable and you should be able to find what you’re looking for next.

Have house prices surpassed their pre-2008 peak? Not in Florida where we still are 18% below that mark. California is 6% below and New York is at 3% below. There is some room to grow and it looks like we’ve leveled off on our property appreciation. A Home Price Expectation Survey done in 3rd quarter of 2016 projects an 18.7% Cumulative House Appreciation by 2020.

There is reason to celebrate the stability in the market and the time that you have been in the market. Many of us have enjoyed an increase in equity and are now in position to reap the rewards of hanging in there when the times were tough. Not that long ago, was it?

You can breathe easily and make decisions on where to move to with a reasonable expectation to get that accomplished before years’ end. Happy fourth quarter to you!

frank-devaldivielso

Frank DeValdivielso, a member the Miami FL Team and The Keyes Company, is based out of 2423 Le Jeune Road, Coral Gables, FL 33134. For more information you can reach Frank at his office, 786.378.8450, or cell: 786.273.8507. You can also email him at RealEstate@MiamiFLTeam.com and please be sure to visit www.MiamiFLTeam.com for the latest listing and news regarding real estate.

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Buyers Behold and Believe!.

2016-08-15
DeValdivielsoTeam Home Sales

Buyers Behold and Believe!

This is a great time to purchase your next home and create your own version of the American dream. Homeowners have their well-cared for homes on the market and are moving on, leaving the door open for the next family to move in and live in this wonderful community. It is paradise on earth!

The quality of life that our community offers begins with great weather, no state taxes on income, wonderful academic institutions throughout, cultural events and locations, parks for all, a small town feeling, boating less than a couple of miles away, direct flights to most places on earth…and yes, the weather. So nice you have to mention it twice!

It is clear that homeowners have received the message and made the adjustments. The upgrades on the homes and their pricing are aligned with fair market value based on recent sales. Come see for yourself. There are beautiful homes available for purchase and the owners are motivated to sell.

Mortgage rates are historically low and make it affordable to buy in the perfect neighborhood.

On top of that there are tax benefits when you own a home.

The economy is stable, people are working, more jobs are coming to Miami and home values are affordable when compared to other large metropolitan areas. Ask any Californian, New Yorker, New Englander, Chicagoan or Torontonian. Their experience in those markets makes our market seem like a bargain.

Renters have a great opportunity to buy as well. Rental rates are relatively high in Miami. A one bedroom, one-bathroom unit on Brickell can rent for upwards of $3,000 per month. That same monthly payment can buy a house in the mid $400’s with just 5% down payment and a high credit score. Sellers may be willing to consider offering financial incentives that will help buyers realize the purchase of the new home. If the net proceeds that the sellers will gain makes sense to them, then it’s likely they will work with you. Ask, you may be pleased with the response.

In all price points there are good deals for buyers. The luxury homes listed here are very special and can accommodate a very comfortable life-style. Come and see the experience they offer.

It’s like a smorgasbord for buyers with a cherry on top!

The juice that motivates people to work hard flows freely in our community. It’s evident in the amount of activity in the economy and the number of buyers purchasing homes. Hard working people lavishing in their respective reality is one of the measures of quality of life.

Brilliant young and old people with bright eyes and clear dreams abound. So many blessings, too many to enumerate. Very grateful for them all.

Carpe diem!

frank-devaldivielso

Frank DeValdivielso, a member the Miami FL Team and The Keyes Company, is based out of 2423 Le Jeune Road, Coral Gables, FL 33134. For more information you can reach Frank at his office, 786.378.8450, or cell: 786.273.8507. You can also email him at RealEstate@MiamiFLTeam.com and please be sure to visit www.MiamiFLTeam.com for the latest listing and news regarding real estate.

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Support Family Run Businesses in Your Community.

2016-07-25

Support Family Run Businesses in Your Community

Family run businesses in our community are always at the ready to deliver excellent customer service to their patrons. It’s the lifeline of the business that makes it sustainable for years to come.

Families depend directly on the business for their income that then gets injected back into the local economy when buying goods and services. Kids and adults use the infrastructure that our great community provides. This includes, restaurants, grocery stores, gas stations, parks, movie theaters, retailers and all you can think of. They generate federal income tax, state taxes and property taxes for the local municipality. The home where these families live contribute with property taxes as well.

Families care about each other and are willing to go the extra mile with their business to help one another. It’s refreshing to speak with a vendor that listens and responds without the use of scripts to address the issue.

They can adapt to the individual circumstance and do what is right with autonomy in decisions. That right there is one reason why family run businesses will always have a market, the ability to make decisions at market speed.

Another benefit is that you can depend on family members to deliver complete service, it’s inherent. There is built-in accountability to ensure that.

The marketing that promotes the business creates accountability with the community to deliver on the promise of excellent customer service. Right?

Generational long term service provides real-life opportunities to demonstrate shared values, work ethic and the consequences of every day decisions and actions.

It shows the next generation how to work and make an honest living that then allows them to set realistic goals for their future. A family that works together wins together and shares challenges when they come. This creates different perspectives with the same end goal but with no hidden agenda nor politics. It gives transparency and trust in each other to do whatever has to be done, rain or shine. The juice that propels the business comes from the very basic need to provide for each other, now and in the future. A veritable raison d’être (purpose of being).

Recently, we had the pleasure to work with a family that has been in the same business for nineteen generations. They have just moved here and are setting up their business. Welcome!

Families that own businesses also care about the community by giving time, talent and treasure. They show community care by contributing with leadership at committees or social groups in town, including coaching sports teams, organizing fund raising, participating in local council meetings, donating to charities and actively engaging with others for the improvement of quality of life.

It takes a village to raise a child and we’re blessed to live in an area where people help each other. Sometimes random opportunity gives strangers a chance to teach a simple lesson. There are more people doing good than there is the opposite. Look and see for yourself.

We do need family time and to keep separate the conversations about the business. That is a challenge in and of itself. Our standard is to not discuss business after 7PM, which usually happens. We recognize that when we are blessed with business it is part of our job to have down time that allows us rest that then gives us the energy and clarity of mind to deliver on our promise of excellent service.

90 years after its inception The Keyes Company, Realtors continues to deliver services to you in South Florida. Truly dedicated to and dependent of the local market. A Miami family owns and operates the company that then contributes right back to the local community.

The DeValdivielso Team is part of this company and we are now into our second generation and counting…

Thank you for your support!

frank-devaldivielso

Frank DeValdivielso, a member the Miami FL Team and The Keyes Company, is based out of 2423 Le Jeune Road, Coral Gables, FL 33134. For more information you can reach Frank at his office, 786.378.8450, or cell: 786.273.8507. You can also email him at RealEstate@MiamiFLTeam.com and please be sure to visit www.MiamiFLTeam.com for the latest listing and news regarding real estate.

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Pricing Your Home to Sell.

2016-04-13
DeValdivielso Team - News - It's the Pricing Silly

Pricing Your Home to Sell - It's the Pricing, Silly...

The Spring buying season is here! Homeowners are getting ready for market and buyers are studying the conditions. According to The Florida Association of Realtors 39% of the total yearly sales take place between April and July. This generates a frenzy of activity in the market. The end of the school year is ‘round the corner and its time for families to move. Inventory levels are rising and buyer demand is, too. Ready, set, go!

The homes that will sell this spring will do so because the sellers are motivated, the buyers see the value and are ready willing and able to close the deal. Now is a good time to get real and sell your home because there will be more eyes looking at it than in other months.

The eyes of the buyers are very well trained. They get to use the services of realtors to help them navigate and understand the market. Also, the internet offers excellent information about the homes, the neighborhoods, schools, crime rate, demographics, transit times for commuting, and of course the price for which other similar homes have sold for. In many cases, buyers do more homework than sellers when it comes to research on the properties. They certainly see more homes as part of the selection process.

Sellers have the same resources available at their fingertips, including knowledgeable realtors and the option to go see open houses that are similar to their home.

Once a homeowner decides to sell then its time to call all the resources in and get detailed information on what is going on in the market now. Motivated sellers want real intel, not pie in the sky. With that information the homeowner has to pick a pricing strategy; list high to leave room to negotiate; list at fair market value; price below market value. All three are used regularly and the days that it takes to sell the home is a clear indicator of which one it was. The longer on the market the more time the homeowner spent “chasing the market”. If it sells fast its because you nailed the pricing. The reasoning to price below market is often used when homes are in need of repair or remodeling. It’s very difficult to find those deals, just ask anyone who “flips” houses for a living and you’ll see.

The real estate market in our community is a benevolent one. If you bought property in 1996 it’s probably doubled or tripled in value. Few other markets in the nation perform that well.

This may be one reason that some buyers are willing to pay above the current fair market value in anticipation of living in the home for a long time. There is also an emotional component in that decision, as you may know. Such as, the spouse loves the house and makes it very clear to the other. As we all know a happy spouse equals a happy spouse!

The challenge again in this selling season for homeowners will be to find someone that is trustworthy to tell them the truth about the market and their home. One of the more difficult moments during the listing period is when the seller and realtor have to discuss pricing the home to sell. It’s a conversation that will happen at the beginning of the listing or sometime thereafter. The market is the market.

If you’re priced too high, wait and one day the home will be worth what you want. In that case it’s not a matter of price it’s a matter of time in the market. Or, take your head out of the sand, look at what’s going on around you and make the adjustment. If you want to move, now’s a great time to start living in your new home!

frank-devaldivielso

Frank DeValdivielso, a member the Miami FL Team and The Keyes Company, is based out of 2423 Le Jeune Road, Coral Gables, FL 33134. For more information you can reach Frank at his office, 786.378.8450, or cell: 786.273.8507. You can also email him at RealEstate@MiamiFLTeam.com and please be sure to visit www.MiamiFLTeam.com for the latest listing and news regarding real estate.

read more