5 Reasons to Hire a Real Estate Professional Today!

We Help each other to reach the goal
We Help each other to reach the goal

Whether you are buying or selling a home, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers and/or buyers think that they can sell and/or buy through a for sale by Owner also known as FSBO.

The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. Ok, so you found your dream house, now what?

According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, who knows what these actions are to make sure that you acquire your dream.

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people that you will have to be knowledgeable with and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS, “the typical FSBO home sold for $208,700 compared to $235,000 among agent-assisted home sales.”

Get the most out of your transaction by hiring a professional.

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the internet about home sales, prices, mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively price your home correctly at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low-ball offer?

Dave Ramsey, the financial guru advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has their finger on the pulse of the market will make your buying/selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line:

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make one of your most important financial decisions of your life without hiring a Real Estate Professional?. We at the ASSAL team want to make sure you reach your goal faster, easier and with a smile on your face! Give us a call today at 786.554.8063 or send us an email at george@georgeassal.com– you can count on our help every step of the way.

What is a Housing Bubble? Is One Forming?

Bubble

The recent talk of Greece and its financial challenges has some questioning whether the U.S. could also return to the crisis we experienced in 2008. Some are looking at the rise in real estate values and wondering whether we are in the middle of another housing price bubble.

What actually is a price bubble?

Here is the definition according to Jack M. Guttentag, Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania:

“A price bubble is a rise in price based on the expectation that the price will rise. Sooner or later something happens to erode confidence in continued price increases, at which point the bubble bursts and prices drop. What makes it a price bubble is that the cause of the price increase is an expectation that the price will increase, which sooner or later must reverse itself.”

Does Professor Guttentag believe we are in another housing bubble?

In a recent article, he explained:

“My view is that we are a long way from another house price bubble. Home buyers, lenders, investors and regulators now understand that a nationwide decline in house prices is possible — because we recently lived through one.”

What are home prices doing?

Though home values are continuing to appreciate, the acceleration of the increases has slowed to year-over-year numbers which reflect a healthy housing market. Here is a chart showing year-over-year appreciation since January of last year:

Case-Shiller

We can see that appreciation rates have dropped from double digit numbers to more normal rates of 5% or lower.

Bottom Line

We think Nick Timiraos of the Wall Street Journal put it best in a recent tweet:

“Predictions of a new national home price bubble look unfounded for now, according to data.”

Interested in selling your home or looking to buy one, give us a call today at 786.554.8063 or send us an email at george@georgeassal.com. We will look forward to hearing from you!

For Sellers – Two Graphs That Scream List Your House Today

Supply-Demand

The spring and summer months have always been known as a very popular time for homebuyers to start the search for their dream home. This year is no different!

We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.

If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…

DEMAND

Foot-Traffic
According to NAR, “Foot Traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”

According to research at the National Association of Realtors (NAR), buyer activity this year has far outpaced the same months in 2014. Purchasers who are ready, willing and able to buy are in the market at great numbers.

SUPPLY

The most recent Existing Home Sales Report from NAR revealed that the current supply of housing inventory is at a 5.1 month supply, which remains below the 6-months necessary for a normal market.

Buyer demand is far outpacing the supply of homes available for sale.
Buyer demand is far outpacing the supply of homes available for sale.

Bottom Line

Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property. Interested in selling your home or looking to buy one, give us a call today at 786.554.8063 or send us an email at george@georgeassal.com. We will look forward to hearing from you!

BRICKELL ROADS TOWNHOUSE – FOR SALE

*** LOCATION – LOCATION – LOCATION ***
240 SW 15th RD #105 Miami FL 33133

240 SW 15TH RD - GARAGE
240 SW 15TH RD – GARAGE

Rare opportunity to own this unique 3 story corner unit with laminated wood floors, open kitchen, 2 assigned parking spaces, full bedroom at the entry level, walk-in closets, high ceilings with interesting angled walls, (not your typical boring rectangular room), this unit has the largest backyard, centrally located, pet friendly and gated community, most important… seller motivated. Asking $350,000.00

LIVING / KITCHEN
LIVING / KITCHEN

Living Kitchen

Interested in Selling, Buying, Renting in Brickell, Downtown, Coconut Grove, Coral Gables and surrounding areas? Call me 786.554.8063 or email me George@GeorgeAssal.com,  I can help, because working with someone who knows the numbers and area is crucial.

Contact me for more info
Contact me for more info

Coral Gables a City Where Homes for Sales Keep Increasing

As the Real Estate market continues to build up in South Florida, Coral Gables luxury homes and condominiums properties are getting listed for sale at more than $1M, the highest number of 2014 sales was in June, representing a 21.4% increase over May and an incredible 278% increase when compared to January. When it comes to luxury real estate sales in South Florida, summer is anything but slow season, maybe not especially when prices increased alongside the number of properties sold.

The average price per square foot for a property sold in June was $476, up $13 from May and a full $85 per square foot from January. In fact, 55 properties were sold or under contract for sale in June, representing over 25% of the entire available inventory.

 

CG trend 07-2014
34 properties sold in June 33 of these were single-family homes.

 

Two projects are currently in pre-sale in Coral Gables:

-Merrick Manor, a 10-story, 180-unit development located adjacent to the famous Village of Merrick Park.

-Antilla Coral Gables, a 5-story, 45-unit project located in the northeastern corner of Coral Gables.

(If you need more info regarding either of this projects please contact me directly as I have direct communication with the developers)

For those that don’t know, Coral Gables is one of the nation’s earliest planned communities with a centralized business district, and is home to the iconic Biltmore hotel, one of only three national landmarks in Miami-Dade County. Coral Gables also has world-class shopping along Miracle Mile and the Village of Merrick Park, a diverse spectrum of art galleries, theaters and lots of fine dining establishments.

As a result, Coral Gables will continue to have in-demand properties that sell for a premium and should remain a sound investment.

Coral Gables City Hall at night
Coral Gables City Hall at night

 

Contact me for more info

Contact me for more info
Contact me for more info

 

Real Estate Market Report | January – June 2014

Investing in South Florida Real Estate? Here is all the information you need as Comparative Review of the Real Estate Market in South Florida. If you are undecided but interested in Investing South Florida real Estate and might already know that is time to buy, contact me immediately I will guide you to the right direction

Click here to view the Real Estate Market Report | January – June 2014

 

 

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