Ft Lauderdale Real Estate Review

I just listed a wonderful property in the Idlewyld neighborhood of Fort Lauderdale. I have been managing this property for two years as a vacation rental. The owner has decided to sell it and now it is ready for a new owner. 

The home has 2125 square feet of space with 3 bedrooms and 3 baths. It was remodeled in 2015. There are views of the Intracoastal Waterway and the Bahia Mar Marina from the master bedroom and upper balcony. Wake up in the morning and watch the yachts go by.

This home is offered at $1,099,000

Call me at 954-895-2431 to schedule a showing.

See all the photos here and check out the 3D virtual tour below.

 Related:

1071 NE 27th Way is Sold! Under contract in just 12 days

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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Everyone likes a good deal. Most will just settle for a fair price. If you are actively looking for a new home but will only consider homes that are "priced right" you may end up looking for a long time, get outbid, or never find your dream home at all. You may have also noticed there are a lot over overprice homes on the market right now. There are many reasons why a home gets priced too high. 

• Zillow - Their estimates are usually wrong and usually high. 
• One upmanship - Their neighbors set a high price and they know their home is way better.
• They over-improved - They spent a fortune remodeling. High end remodels only return about 50% 
• They don't want to give it away - I hear this one daily
• Bad advice - This can come from anywhere. Friends, neighbors, The aunt who's a Realtor on Long Island.
• Disagreements - Husbands & wives, siblings that have inherited a property, investment partners, don't always agree and the high price usual wins.

They could just be stubborn or unmotivated. You won't know for sure until you actually make the offer and get a response. Even if it is well below what they are asking.  And, if your offer goes no where, the seller may eventually come to their senses. When that happens you will be at the top of the list for a phone call from their agent. There are many good reasons to just ignore the seller's ambitious price and go ahead and make offers anyway. Here are few of them

You Wont Be Competing With Other Buyers

Most segments of the market are very competitive right now. Here is South Florida, single family homes at most price points are especially competitive. When a well priced home comes on the market it gets a lot of attention and bidding wars are not uncommon. It is not unusual for prospective buyers to be outbid several times before they are successful. In these competitive situations buyers can end up over paying to avoid getting out bid again.

The market is very transparent these days. It is easy to spot an over priced home. They may get a few looks but no offers. Then after a while on the market their listing has become stale. That can be the kiss of death for the seller, but a real opportunity for the buyer. When an actual offer finally does come in, they may be ready to take just about anything.

The Seller Has No Leverage

On a well priced listing the seller is in total control. They don't have to negotiate. The market will do it for them. I have seen way more irrational behavior from buyers on homes priced near or even a bit below market value than on any over priced home. A lot of sellers are sure there is one special buyer who will just fall in love with their home, or they will find a buyer with more money than brains. However, they rarely appear. 

I only have anecdotal evidence, but whenever I see a sale that closed for a really good price for the buyer, it is most often an instance where the seller has set a price that is too high, not too low. Clearly, they had little interest from buyers and they thought that would be the best they could do. So they capitulated and took that low offer.

They all think they can negotiate a great price for themselves, but if a buyer doesn't want to pay that price they will just wait for something better to come along. Time is the great equalizer. This is a situation buyers should take advantage of.

It Takes Very Little Effort To Submit an Offer

I have said it many times before. The best deals are not found, they are made. If you see a property that looks like a good deal, chances are 100 other people see it too. It will be gone before you know it. In today's market you need to consider going where others won't bother to go. You may have to make many offers, but it doesn't take that much effort to do so. A standard "as-is" contract takes me about 10 minutes to write up with the software I use. It can be signed electronically, by you, the buyer, with almost no effort at all. If you took the time to see the property you shouldn't be worried about the effort it will take to make an offer. 

I see a lot of reluctance from buyers to make offers. They don't want to offend someone, even if they are completely wrong about the value of the home.  Well, that is why you hire an agent, to do it for you. We have thick skin. We are used it. So go out and make some offers.

Related:

What does Days on the Market Mean For a Home Buyer?

When is The Best Time to Buy a House in Florida

What Should I Offer on My Next Home?

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Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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On March 23, 2018 my listing at 4035 W. McNab Rd Apt F107 closed. It was listed at $119,000 and was under contract in just SIX DAYS! The final sales price was $115,000. This was an all cash sale.

The condo is located in the Windward Lakes community near Palm Aire in Pompano Beach. It is popular with investors because there are few rental restrictions. The 2 bedroom unit has 1057 square feet of living space. It is tenant occupied, with a monthly rent of $1100 per month.

See all the listing details here.

If you are thinking of selling your property in the Pompano Beach area, please contact me at 954-895-2431

Related:

1071 NE 27th Way is Sold! Under contract in just 12 days

What Does it Cost to Sell a Home In Florida

What To Repair If You Are Selling Your Home

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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I just listed a nice "F" Model unit in Palm Aire Country Club. It is a 3 bedroom 2.5 bathroom unit with 1710 square feet of living space.

It features:

• Split Floor
• Beautiful view of the golf course and lakes
• Tile floors
• Brand new air conditioner and hot water heater
• Stainless steel appliances

It is the best priced F model on the market right now.

Asking price is $189,000

See all the photos and complete listing details here.

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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Here is another review from a happy customer. I sold there waterfront home in Pompano Beach in less than two weeks.

Originally when we decided on placing our home on the market we researched and chose another agent. First thing this person did, although nicely, was tell to us our taste was in the crapper. She was somewhat an expert on staging, or claimed to be. We licked our wounds and actually began complying with her suggestions. Finally I realized this agent wasn’t in the selling business but a frustrated redecorater. We sought out another agent. Our “lucky DAY”, we found Tom Day. The minute he walked in our home he said, your home looks fine the way it is, it’s ready to market. We easily came to agreement, shook hands, sign goes up, photographer did his magic, appointments for showings started rolling in, so many, so quick, it was annoying. It didn’t last long though, two offers in just tens days on the market, a deal less than two weeks, all without repainting the outside house trim, or repainting our brass bed white (because it was so yesterday). Tom is a honest laid back agent who’ll tell how it is, not what you want to hear. You need a straight shooter buying or selling, Tom is your man. Whether you are buying or selling we highly recommend Tom Day. If you’re seeking satisfactory results then give Tom a call. Happy customers, Jerry and Sistie S.

If you own a home in the greater Fort Lauderdale area, I can get the same results for you. Please call me at 954-895-2431 or send me a message today.

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

If You Like This Post, Please Share. Thanks!

On Feb 28th my listing at 1071 NE 28th Way, Pompano Beach became a closed sale. It was priced at $824,900 and was on the market for just 12 days. The sellers actually had two offers to choose from. One for cash, and a slightly better one with conventional financing. They choose the higher price with financing. In the end the difference in price was worth the longer escrow period.

See the 5 Star Review Here

The home is located in the Island section of Harbor Village. It has 1995 square feet of living area, 4 bedrooms, 3 baths and a 60 foot dock on 71 feet of waterfront. 

See more photos and a 3D virtual tour of this great home here.

Related:

What is Your Pompano Beach Home Worth?

3 Steps to Getting Top Dollar For Your Home

What Does it Cost To Sell a Home in Florida?

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

If You Like This Post, Please Share. Thanks!

I just listed a two bedroom condo in Windward Lakes at 4035 W. McNab Rd Apt 107, Pompano Beach.

This unit is prefect for investors. It is currently rented by a long term tenant who can stay on. This tenant has been there for 5 years. The unit has laminate floors. The kitchen had some updates in about 2012. The condo fees are only $299 a month. Pets are allowed and there are no rental restrictions. The approval process is easy too.

See the complete listing with more photos here.

Asking price is just $119,500.

Call me for more information 954-895-2431

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

If You Like This Post, Please Share. Thanks!

Here is another recommendation from a first time home buyer. I helped her find her new condo in Fort Lauderdale.

Tom helped me purchase my first condo. And I couldn’t be happier. He was always quick to respond to any of my questions and set up any showing I was interested in usually within 24h. I can highly recommend him and will definitely use his services again if I need a realtor in the future.

______________________________________

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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Tom Day did an amazing job with not one, but two quick sales for my father and I. He is great with communication and was able to close a deal for us conveniently even while we were out of state. Highly recommended.

Bobby G

Houston, TX

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

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On Jan 10th my rental listing at 1413 NE 4th Ct was rented to new tenants. The property is located in the Victoria Park neighborhood of Ft Lauderdale. The owners are investors from out of state. They purchased it in Oct 2017 and I will be managing the property for them. 

The interior of the home was in near move in condition. The exterior had overgrown landscaping and needed the pool refinished, some new landscape lighting installed and general clean up done. I oversaw the project to make it ready for renters.

I listed the home for $3700 a month and it rented for $3600 a month, unfurnished.

If you own an investment property in Lauderdale by the Sea or the surrounding area let me help you find a quality tenant for it. I also offer complete property management services if you prefer not to be a hands on landlord.

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

If You Like This Post, Please Share. Thanks!