Welcome to my blog. I have been writing articles for home buyers and home sellers in the Greater Fort Lauderdale area since about 2007. If you are thinking of buying or selling real estate you can find some helpful tips right here. If you would like to get them sent directly to your inbox just sign up below.
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Today I listed a remodeled two bedroom in Palm Aire Country Club. It is located at 575 Oaks Lane Apt 406.It features
The Asking Price is $199,000
Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
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Are you familiar with Zillow's value estimates that they call Zestimates? They are a computer generated home valuation based on recent sales prices of other homes in the area. The problem is they are usually not very accurate. I have seen some very inaccurate values from them. In late 2016 I listed a Fort Lauderdale waterfront property. Zillow had estimated its value at $1,450,000 which I knew to be way too high. The day I listed the property at $1,250,000 the Zestimate dropped by $200,000. The home sold quickly for $1,150,000, which was about what the owner and I were targeting. That is a $300,000 error! In my experience their valuations seem to always be on the high side. Could it be to encourage home owners to sell? I wouldn't doubt it. Most of their revenue comes from selling buyer and seller leads to real estate agents.
Zillow publishes the accuracy statistics of their Zestimates right on their site. You have to know where to find it but its buried there somewhere. See the chart I captured above. For example their Fort Lauderdale Zillow estimates are within 5% of the actual sales price only 55.4%. From my point of view, as someone who makes a living valuing and selling homes, this is information is only good in a ball park sense, not as an accurate number to list a property for sale or to purchase. It is impossible for a computer to account for all the important factors that will affect value such as condition, views, and adverse influences such as traffic and noise. All homes are different, and when you get right down to it they are worth what a ready, willing and able buyer is willing to pay for it.
When the time comes to list your home for sale, take that Zestimate with a grain of salt. It can not replace a trained professional. It is very important to start with a realistic price because homes that linger on the market too long become stale and harder to sell even if they eventually do adjust to the correct level.
Homeowners that attempt to sell their home on their own, far too often rely on Zillow to help them set an asking price. Even if you are selling your home on your own, many agents would be happy to give you their opinion at no cost. That's because they know you may eventually need their help to sell it down the road. I happen to be one of those agents. If you would like a Comparative Market Analysis, just ask, I'd be happy to do it for you.
An even better idea would be to hire a licensed appraiser. I encourage this with most of my customers. I do this because no matter how good at it I am at estimating value, there will always be a perceived bias. It is often assumed that since I'm selling the home I want it priced for an easy sale. An impartial third party opinion is well worth the cost, and I will even cover that cost with a credit at closing for my customers who hire an appraiser. An additional benefit of having an appraisal in writing is it's a great tool when negotiating the price with a prospective buyer.
One final note, Zillow’s CEO, Spencer Rascoff, sold his home for 40 percent less than the Zestimate showed in 2016!
Related:
Here is What Will happen When You Seek an Agent From Homelight
The Hidden Costs of Holding on to a Vacant Property
The Best Time For Selling Real Estate in Florida
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Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
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The Claridge is an oceanfront highrise condominium located at 1340 S Ocean Blvd in Pompano Beach, FL. The uniquely shaped building built in 1972 has 23 stories. Each floor has 9 units. All 198 of the units have 2 bedrooms and two bathrooms. If you are looking for more space, the Claridge may be what you are looking for. Smaller units have 1484 square feet of living space and larger units have 1844 square feet of living space. This is considerable larger than than the typical two bedroom condo in the area.
It's amenities include a heated pool, fitness room, sauna, community room and a library. It is located about a mile south of Atlantic Blvd. Units facing east of course have direct ocean views. Units facing east will have to settle for views of the Intracoastal Waterway and Lake Santa Barbara. Some units have views of both. It has typical rental restrictions that allow leasing after the first year of ownership. Pets are not allowed.
In 2015 eleven units sold at prices between $310,000 and $580,000.
See Condos For Sale in Claridge
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If you are thinking about buying or selling a Claridge condominium please call me at 954-895-2431 or email me below.
Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
If You Like This Post, Please Share. Thanks!
Sabbia Beach ~ An intimate collection of only 68 ultra-luxury residences sitting on over 200 linear feet of Pure Ocean.
This Aquitectonica masterpiece of, spacious two, three and four bedroom floor plans, with private and semi-private elevator access leading into a dramatic double-door entryway with floor-to-ceiling glass windows and sliders offering ocean, city and intracoastal waterway views with our resort-style amenities elegantly appointed by Interiors by Steven G.,
Intracoastal View
This spectacular boutique property will also feature only two magnificent penthouse residences with 22~feet of soaring double height ceilings, and offering only four residences “The Terrazzes at Sabbia Beach” which will offer expansive oversized terraces specifically built and fully finished for outdoor entertainment boasting from 1,820 sq.ft. to 3,940 capturing coastal living at its finest.
Prices ranges are as follows:
• Amalfi Residences starting from $900k
• Barona Residences starting from $1.790m
• Capri Residences starting from $1.675m
• Portofino Residences SOLD OUT
• Pasitano Residences starting from $1.195m
Penthouse and the Terrazzes at Sabbia Beach will be provided upon request.
Sabbia Beach is located at 730 North Ocean Boulevard in Pompano Beach, Florida 33062
Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
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See condos and homes for sale in Palm Aire Country Club here.
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Related
Palm Aire Country Club Buyers Guide
3095 N Course DR Apt 903 Just Sold
Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
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This week there were 56 listings that had price reductions of at least $20,000 or more. These are the folks that are getting serious about selling their home. Motivated sellers we call them. The largest price reduction in the Fort Lauderdale MLS for the week ending Feb 19, 2016 was $300,000.
You can see them all right here.
You can sign up to get instant notification of price changes in your favorite neighborhood while your at it.
If you are thinking of buying or selling call today at 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!
This week there were 50 listings that had price reductions of at least $20,000 or more. These are the folks that are getting serious about selling their home. Motivated sellers we call them. The largest price reduction in the Fort Lauderdale MLS for the week ending Feb 12, 2016 was $300,000.
You can see them all right here.
You can sign up to get instant notification of price changes in your favorite neighborhood while your at it.
If you are thinking of buying or selling call today at 954-895-2431