Ray Peckham Real Estate

Facts About Surfside Homes Values

Surfside FAIR MARKET VALUE

When you buy Surfside real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.

Guidelines for Buying Surfside

The Internet is great but nothing really substitutes for your personal inspection of homes that are for sale in the Surfside. When you have visited plenty of homes online and in person when the right property comes along you will know it.

It is perfectly normal for buyers to have a general idea of what they want in a home without a great deal of specificity. Research, both online and in person will help you define your Surfside needs but you can and should know your financial needs before you even start looking. I recommend that buyers go through the process of prequalifying with a lender or at least with a real estate agent in order to narrow the search among homes that are a possibility. Many agents refuse to show homes to prospective buyers who have not been pre-qualified.

Surfside ...How To Determine Price

The asking price of your Surfside real estate is not something to decide willy-nilly. Price it too high and you may not get any offers. Price it too low and you fail to maximize the return on your investment. Here is a good way to go about determining the price for your Surfside home.

Buyers who will consider your Surfside are out there inspecting and comparing a variety of homes that are for sale at the same time your home is on the market. If your home is priced significantly higher than comparable Surfside homes, you may not get very many buyers to even look at your home. Ultimately, it is buyers who determine what your home is worth. Buyers who are represented by an agent are privy to knowledge of what homes are actually selling for. You should be armed with this knowledge as well and you should use this knowledge to guide your pricing decision.

Tips for Buying or Selling Surfside

Most experienced real estate agents and brokers already have Websites that showcase their local MLS data so your Surfside can show up online as soon as it is listed. On the other hand, if you are selling on your own it will take time or a considerable advertising budget to get your individual Surfside property to show up on the major search engines where prospective buyers will find it. You could tap into one of the several For Sale by Owner Websites but that would limit your market of buyers.

Buying real estate in Surfside is also much easier when you work with a real estate agent who knows the area and the market. While there is a great deal of information online about real estate asking prices, it is not always so easy to find out what a property actually sold for. And even then, specific terms of a sale often make a difference in how to interpret the sales price.

What Makes Surfside Sell?

People often ask me when is the best time to sell my Surfside? I usually reply that if you want to get the best price for your home, it is wise to give yourself as much time as possible to sell it. However peak selling seasons vary in different areas of the country, and Surfside is no exception, and weather has a lot to do with an area’s peak season. For example, late spring and early fall are the prime listing seasons in many areas because houses tend to show better in those months than they do in the heat of summer. Having said that, houses sell in every season in areas where there is a demand. By demand, I mean a significant number of prospective buyers moving to the area for a variety of reasons.

What Makes Surfside Sell?

If your only reason for selling your Surfside is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Surfside for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low.