Naples Florida Real Estate Blog

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When the market was hot, buyers looked over a lot of the major issues and just bought, bought and bought.  Now with the prices and the amount of product available you need to take in consideration what triggers buyers.  Below is the top 10 list of what triggers buyers.

1. Curb appeal

This is arguably the most important part of preparing your home for sale because it’s the buyer’s first impression. Your home doesn’t necessarily have to be repainted, but it should look fresh, with no cracked paint. Consider pressure-cleaning sidewalks, resealing the driveway and replacing the mailbox. Get rid of any debris, weeds and toys in the yard. Sprinkle mulch around the trees and trim the hedges so that they’re not hiding windows. Plant colorful flowers no more than 6 inches high.

“Red, purple, orange,” Cadden said. “Those colors create excitement in a buyer.”

2. Kitchens and bathrooms

Kitchens are the No. 1 seller of homes, with bathrooms a close second. Consider replacing the kitchen counter tops if they’re old and bland. Everybody loves granite, but laminate, black Formica or four-inch tiles with grout aren’t bad alternatives and cost less. Granite 12-by-12 tiles with thin grout is another possibility, but you may have to do a lot of cutting, depending on the depth of the counter top.

Here’s a good rule of thumb: If the house is listed at $500,000 or above, you probably need to spring for granite. To spruce up the bathrooms, replace the fixtures and the sliding shower door. Hang some fluffy white towels. Above all, the bathrooms must be spotless.

3. Doors

The front door, if possible, should have glass side panels to allow light to shine through. Replacing the hardware with, say, antique bronze is a cost-effective way to make the door look new. Don’t forget to make sure the doorbell works. Doors inside the house should be painted and the hardware should be the same on each one. Fix any annoying squeaks. Older homes have sliding-glass doors, but there’s not much you can do with those except replace them. French doors will add value, but they’re expensive.

4. Flooring

Wood is good, but make sure it’s sanded and restained. Laminate flooring also is fine, but it should be a neutral color. Shampoo the carpet so it’s free of stains and pet smells. You don’t need to buy new carpeting because the homebuyer will want to select it. But if the rug is really bad, get berber from one of the home improvement stores and install it yourself.

5. Lighting

Upgrading the lighting is an inexpensive way to improve the look and mood of a house. Replace the fixtures, install dimmers and use soft-wattage light bulbs. Buy a chandelier, but nothing too ornate. Also, keep the outside lights on at night because prospective home buyers often drive through neighborhoods after dark.

6. Living room and closets

A cluttered house quickly turns off buyers, so lose the knick-knacks. Make the house appear open and inviting. Pack up one-third of a closet’s contents and store the junk somewhere off site. A crowded closet tells buyers the house doesn’t have adequate storage.

7. Garage

Garage organization is big business these days and the before/after photos offer dramatic contrasts. Local companies will come in and get rid of the junk, using bins, cabinets, lockers, hooks and hangers to more neatly store what’s left. The cost of organizing your garage can range from a few hundred dollars to more than $15,000. You could do much of the work yourself. For instance, if the garage floor is stained, paint it gray.

8. Patio

Again, less is more. Make sure the junk is gone and that the furniture looks new. Set up the grill. Create a scene that allows potential buyers to see themselves relaxing outside and enjoying the backyard.

9. Ceilings

Adding crown molding and removing popcorn ceilings are nice touches but not necessary. If you do try it, hire a professional. In most cases, however, your money would probably be better spent elsewhere.

10. Pool/spa/sprinkler system

The pool and spa should have enough water. If there are leaks, or if the equipment is broken, get busy. Don’t forget about the sprinkler system. Granted, sellers don’t want to invest hundreds or thousands of dollars in fixing these items, but it will greatly improve their chances with buyers.

For a free listing consultation call Naples Real Estate Pros at 239-289-1849.

International buyers are the way to go in real estate these days.    With the decline of property values and also the dollar purchasing property has became very attractive to international buyers.  In a recent poll of Florida real estate agents 65% of them said they were involved with an international transaction in the past year.  With this in mind the best place to to maket your home for sale is overseas.  Naples Real Estate Pros has developed a great marketing program to reach these buyers. 

When you list your home with Naples Real Estate Pros your home with be featured on www.Realtor.com, www.Homes.com, www.naplesrealestatepros.com (with searches on the US version of google, Canada google and also European google).  By going the extra step and getting the exposure your home will sell faster and international buyers are more willing to pay in cash.  A cash purchase will close your home faster and you will avoid any issues with your buyer getting approved for a mortgage.  Call Naples Real Estate Pros now and have them list your home and see the results.�

When buying a home as an investment, location is the most impotant aspect that you can control.  Properties that are west of 41 in good neighborhoods are holding their value better than others and will bounce back faster as the market rebounds.  There are some great deals out there and now is the time to take a look if you are planning on getting in the market.  Naples Real Estate Pros prides themselves on finding you the best deal out there to protect your investment.  Rates also came screaming down today, so jump on board and give us a call to see how we can help you find your dream home or investment.

 www.naplesrealestatepros.com        1-800-590-6856

Too many buyers are waiting to pull the trigger and buy, but by them waiting on the market to decline they are actually hurting themselves because interest rates are going up.  The rates on a 30 year fixed are at 6% and a year from now they are predicting rates around 7%.  For example if you buy a home for $250,000 at 6% with 20% down your payment would be $1199.10.  If the market would decline another 10% in the next year you would pay $225,000 at 7% with 20% down your payment would be $1197.54.  So you should jump in and buy, because the market is starting to flatten out and the deals are out there to be had.  The investors are starting to jump back in the market buying the great deal, get yours before they are gone.

 Go to www.naplesrealestatepros.com and order your custom home search report or call us at 800-590-6856

Congress is being urged by NAR to increase the loan limits for Fannie Mae from $417,000 to $625,000.  This increase will help hold of frecession and open up the housing market to more buyers.  With the slow down in the housing market Congress needs to open up the availablity of loans and also keep interest rates low to help spurn home buying.  To read more on this click http://www.floridarealtors.org/NewsAndEvents/n5-012108.cfm .  Now that the financing market and home sale prices are down, it is a great time to be a first home buyer or look for your second home in Southwest Florida.  Gives Naples Real Estate Pros a call at 239-872-3928 or visit the web site at www.naplesrealestatepros.com �

Existing-home sales are projected to trend up in 2008, with pending home sales showing a slight near-term rise, according to the latest forecast by the National Association of Realtors® (NAR). However, a recovery for new-home sales is unlikely before 2009.
This news is great for property owners in Florida since they have taken drastic drops in their equity positions over the past 2 years.  Since we are back on the rise starting the new year, if you are looking to buy you better do it sooner than later.  Lending restrictions are becoming more and more strict so purchase a home before you can not qualify for a mortgage.  We have all been spoiled over the past 5-6 years with huge increases in property values, we need to look over time and realize a 10% equity gain per year is great and is better than most investments you currently have.  There are great bargains in the short sale market and investors are giving away property thousands less than they bought for in the past few years, so take advantage of it. 

Financing is available through Empire Funding Group (www.empirefundinggroup.net), give them a call at 239-390-0026 and own a home and stop renting.  Take a look at all the great deals on www.naplesrealestatepros.com or call 239-872-3928 and get a custom home report.  Start off the new year in a home and beat the rush before prices start to creep up like they did 5 years ago.

In 2008 there is an estimated 325,000 new people that will move from other states, foreigners and new births in Florida.  This influx of new people to the state will start to absorb some of the excess homes in the market today.  If you also take a look at the number of peolple that are now entering their baby boomer ages the numbers start to dwarf the small housing issues we are dealing with now.  Florida is a magnet for retirees, and the census indicates that 3.8 million new residents would be added  to the state if just 5 percent of the nation’s 76 million baby boomers choose to retire in Florida.  All comes to those who are patient and wait.  If you are ready and want to take advantage of these people moving down, call me to get a great deal on an investment property.  There are extremely aggresive sellers and that always makes it a buyers market.  Visit www.naplesrealestatepros.com and order up a custom home search to find your next home or investment.  Call today for a free market analysis 800-590-6856

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I was recently reading an article about pricing your home right when it first goes on the market and could not agree more with the research that was reported.  In dealing with listings it is important to have a fair, but aggresive price in this market or else your home will sit for months and you will end up taking lesser of an offer.  The article attached is from New Jersey, but the same principles apply to our market.

 I would like to thank Kathleen Lynn for the following article, please read this and take it in consideration if you are planning on listing a property for sale.

Home sellers who list at a high price to “test” the market do themselves a disservice, according to research by a New Jersey appraiser – their homes spend more days on the market and eventually sell for less than similar homes priced realistically from the start.

New Jersey-based appraiser Jeffrey Otteau of Otteau Valuation Group Inc. conducted the research of sales in a declining market in the first six months of 2007. In his analysis of 4,500 home sales mainly in North and Central Jersey in the $500,000-to-$700,000 range, Otteau first looked at homes that sold within one month of listing. He found that the median asking price was $599,900 and the median sales price was only slightly less at $599,000.

However, the disparity was greater for homes on the market longer than one month. In that group, the median asking price was $634,900, and the median sales price was $585,000. Otteau believes the higher price immediately turns off many buyers and, if prices are falling, becomes even more overpriced three months later if the house languishes on the market.

According to Otteau, many buyers fear that home prices will continue to decline and are afraid to make a commitment. But if a home is priced slightly below the competition, it not only attracts immediate attention, it also assures buyers that they won’t have to worry about local median prices falling a bit more.

“Overpricing extends days on the market and guarantees that you will sell your home for less in a declining market,” says Otteau.

As we are moving into season the phone and showings start to pick up, so price it right and call Naples Real Estate Pros for all of your real estate needs.   1-800-590-6856