Calculating Your Asking Price

 

The best answer is get help from a real estate professional. But, if you only have a few minutes for a video, here are five points to consider.

1. Start With Measurement Learn the average per-square-foot price for recent sales in your neighborhood. That will not set your final price, but it is a baseline buyers will use.

2. Get Comparisons Ask for Comparative Market Analysis – comps – from several agents. Go through each comp with each agent to understand both competitive homes on the market AND each agents potential approach to yours.

3. Market Research. Do your own! – not just online, but in person. That will help you understand your market conditions and the buyers perspective realistically. Markets get hot and cold, up and down, and yours defines the sales envelope for your home.

4. Consider All Terms Price isnt all there is to a sale. Can you close faster? Finance or lease-option the sale yourself? Cover some closing costs? Your flexibility can make sales leverage.

5. It is Not Personal. The hardest tip of all. Most people are emotional about their home. Pricing, in the long run, is going to logical. Theyre buying your house,not your home & memories. Find a real estate professional you like and trustand let them help you through the process.

The Impact of Higher Interest Rates

Interest-Rate

Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed:

“The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.”

How can this impact the housing market?

The article reported that recent analysis from Realtor.com found that –

“…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.”

This doesn’t necessarily mean that those buyers negatively impacted by a rate increase would not purchase a home. However, it would mean that they would either need to come up with substantially more cash for a down payment or settle for a lesser priced home.

Below is a table showing how a jump in mortgage interest rates would impact the purchasing power of a prospective buyer on a $300,000 home.

BuyersPurchasingPower3

In Conclusion

If you are considering a home purchase (either as a first time buyer or move-up buyer), purchasing sooner rather than later may make more sense from a pure financial outlook.

Tired of being a tenant? thinking of selling your home?, looking to upgrade? 1st time buyer(s)? buying your dream home? Call us 786.554.8063 or email us George@GeorgeAssal.com, WE are here to facilitate and help you during the process of buying, selling, or renting any real estate needs, which will result in reaching your financial goals quickly and with ease, visit our page www.GeorgeAssal.com

Park Grove in Coconut Grove.

Park Grove in Coconut Grove.

Most ambitious architecture/project to date


The New Park Grove Condo Project is selling quickly; this luxury condo project is located in Coconut Grove more specific in the middle of a newly developed waterfront park. The condo project has 3 towers with great investment values.

PARK GROVE FLOOR PLAN

Designed by OMA and rem KOOLHAAS, the striking towers of PARK GROVE set a new architectural standard in the quiet seaside enclave of Coconut Grove.

stunning-towers

Park Grove Residences will blow everyone expectations with their high-end waterfront project. With amenities that will take you to the next level and to better your experience, The Park grove Condo offers pools, fitness, yoga, a private chef, yes a private chef and much more.

daytime

As the first Luxury Condo in Coconut Grove to be built after Grove at Grand Bay, makes this project most ambitious architecture/project to date

airy-open-kitchens

sun-filled-living-rooms


Contact me For more info about Park Grove and any other projects / new constructions in Miami or South Florida Business card

GREAT OPPORTUNI…

GREAT OPPORTUNITY!!! CASH ONLY – Property is located in Bryan Park/Shenandoah area, main house is a 2/2 with 3/3 efficiency building property is being sold is as is conditions, furniture also for sale.

If you are considering buying, selling or renting, in Brickell, Coconut Grove, Downtown, Coral Gables, Pinecrest, Palmetto Bay, South Miami, Doral,  please feel free to contact me.

George R. Assal
Broker-Associate® | BBF Member | Property Manager |REO & Short Sale Specialist|English- Español
EWM Realtors® | A Home Services of America Company | An Affiliate of Berkshire Hathaway
Brickell Office | 901 S. Miami Avenue, Suite 215 | Miami, FL 33130
C: 786.554.8063|O: 305.329.7635|F: 888.240.5507|
George@GeorgeAssal.com  | www.GeorgeAssal.com