This past week has been amazing! Nancy and I were invited to compete for a listing and we won! The property is hands down the best value for a single family home on the Island and we are excited to share it with you. We have hired the best Photographers and Videographers in the business to capture the homes details. We will have those pictures and videos next week so keep an eye out. However if you are in town give us a call before the public sees this property ...
I will be in Orlando for a few days starting tomorrow at the midwinter meetings with the Florida Association of Realtors. Im looking forward to attending my first conference as President, and there is alot of work to be done! I will be Tweeting from the conference so to keep up to date you can follow me on Twitter at @BocaSuperstar.
While Im gone Nancy will be holding down the fort so give her a call if there are any properties you would like to see.
Have a great week!
Kevin
How Much Does It Cost to Sell a House? Here's a Reality Check
By Cathie Erickson |
Jan 20, 2017
Show me the money! Admit it, that's what you're thinking when you consider selling your house. In fact, chances are good you've mentally spent much of the proceeds already-on a new house you're buying, and maybe even a nice vacation this summer. Slow down there-while selling a home can indeed bring in some sweet profits, not every dollar goes into your pocket. You also have to pay the professionals who help you unload your property. So now the question in your mind is probably: How much does it cost to sell a house? Really?
On average, home sellers pay their Listing Agent a commission amounting to about 6% of the price of their home (although that percentage can vary). On a $250,000 house sale, this amounts to roughly $15,000.
That might seem like a yuuuuge chunk of change, but don't go assuming you're getting ripped off! Here's where that money goes, and why it's totally worth it.
The real estate agent commission, explained
If you're picturing your real estate agent pocketing the whole sum, think again.
"Sellers are often confused by the often-quoted '6% commission fee,' and it's because many agents don't explain clearly why it's being collected," says
David Nelson, a real estate professional with Re/Max Advantage Plus in Minneapolis/St. Paul.
In fact, that commission is split between the Buyers Agent's brokerage and the seller's. They might split it evenly, or the seller's agent's side might get a bit more. From those splits, the respective brokerages take their cut-which, again, varies-and the remaining amount goes to the agents.
Remember, most agents don't receive a salary, so that fee pays for all that time the agent spent marketing your home. It also includes costs like photographs and signage, as well as the cost to list it on the Multiple Listing Service. And if your house doesn't sell, the agent doesn't get reimbursed for those costs-or paid for her time.
How much sellers pay in closing costs
While buyers tend to pay more in closing costs, sellers aren't completely off the hook. You can expect to spend an additional 2% of your home's price on this expense, says Keith Gumbinger, vice president at mortgage information resource HSH.com.
Closing costs tend to be fixed, including transfer taxes, escrow expenses, and notary fees. You'll also pay at closing any outstanding property taxes, a prorated share of the water and sewage bills, and the remainder of your mortgage.
Yet you may have control over a few closing costs, says Gumbinger. If you hire a real estate attorney to oversee your side of the transaction, it's worth shopping around to compare rates. You might also be able to avoid a $100 to $200 reissue fee for the title search if you can provide a copy of your policy.
Should I just sell my house myself to save money?
In a hot market, many sellers may think they can sell their house themselves to avoid the commission fees.
However, most people don't realize that if you sell your house on your own, you still have to pay for the buyer's agent's brokerage fee.
"Since over 93% of active buyers have a real estate agent representing them, it's the only way to attract these agents-and thus their buyers-to even consider your home," Nelson says.
What about that cash they would still be saving by selling their home as " For Sale By Owner," or FSBO?
Consider what your agent brings to the party:
Marketing, signs, advertising support, and professional photography
The time and "hassle factor" savings of not having to be present for showings, manage calls, host an open house, set up legal representation for paperwork, and conduct the negotiations
The legal protection that comes with working with a licensed real estate agent
The professional market knowledge that can help you wisely price the house
Negotiating expertise that allows your agent to extract the best terms and price from the buyer
A wider pool of potential buyers that comes with listing your home on the MLS
Access to other agents, who have or know potential buyers. In fact, notes Nelson, many sales can happen before a home is even listed, because agents will reach out to one another.
"In the end, that 'savings' to list a home yourself doesn't usually save you any money," Nelson says. "In fact, it can cost you in terms of time, stress, and often a lower price for your home."
You know the saying "you get what you pay for"? Well, you also earn what you save. Think long and hard about your limitations in terms of time and expertise before heading down the home-selling path solo. After all, this home sale may be one of the largest financial transactions of your life, so it's not exactly something you should cut corners on with the hopes of saving a few bucks.
RES76 PINE VALLEY CT, ROTONDA WEST PINE VALLEY, ROTONDA WEST, $309,000
Price Change
RES 11220 HACIENDA DEL MAR #A201, HACIENDA DEL MAR, PLACIDA, From $523,900 to $489,900 (-$34,000)
RES385 GREEN DOLPHIN DR, CAPE HAZE, PLACIDA, From $825,000 to $795,000 (-$30,000)
RES13 SEAWARD CIR, CAPE HAZE WINDWARD, PLACIDA, From $389,900 to $379,900 (-$10,000)
RES455 BOUNDARY BLVD, ROTONDA WEST, From $297,400 to $285,900 (-$11,500)
RES10300 TARPON LANDINGS #1, LANDINGS/ CORAL CRK, PLACIDA, From $299,000 to $279,000 (-$20,000)
RES8832 CONCH AVE, CORAL CAYE, PLACIDA, From $338,400 to $346,400 (+$8,000)
RES101 SIDNEY CT, ROTONDA WEST, From $289,900 to $279,900 (-$10,000)
RES1962 ARKANSAS AVE, GROVE CITY SHORES, ENGLEWOOD, From $599,900 to $549,900 (-$50.000)
Pending
RES2576 OBERON RD, GULF WIND, ENGLEWOOD
RES8560 AMBERJACK CIR Unit#202, THE HAMMOCKS, ENGLEWOOD
RES1965 ARKANSAS AVE, GROVE CITY SHORES, ENGLEWOOD
RES8832 CONCH AVE, CORAL CAYE, PLACIDA
RES121 N GULF BLVD, PALM ISLAND ESTATES, PALM ISLAND, PLACIDA
RES218 WESTWIND DR, CAPE HAZE WINDWARD, PLACIDA
RES8912 SCALLOP WAY, CORAL CAYE, PLACIDA
RES10499 COQUINA CT, CORAL CAYE, PLACIDA
RES8800 CONCH AVE, CORAL CAYE, PLACIDA
RES8809 CONCH AVE, CORAL CAYE, PLACIDA
RES8841 CONCH AVE, CORAL CAYE, PLACIDA
RES92 ROTONDA CIR, ROTONDA WEST OAKLAND HILLS, ROTONDA WEST
RES11 MEDALIST LN, ROTONDA WEST WHITE MARSH, ROTONDA WEST
RES189 TOURNAMENT RD, ROTONDA PINE VALLEY, ROTONDA WEST
RES121 FAIRWAY RD, ROTONDA WEST PINEHURST, ROTONDA WEST
RES178 MARKER RD, ROTONDA WEST-LONG MDW, ROTONDA WEST
RES51 MEDALIST CT, ROTONDA WEST WHITE MARSH, ROTONDA WEST
VAC4100 CAPE HAZE DR, CAPE HAZE WINDWARD, PLACIDA
Sold
RES 11000 PLACIDA RD #2103, PLACIDA HARBOUR, PLACIDA, List Price $849,900, Sold for $800,000
RES 14038 COQUINA CT, CORAL CAYE, PLACIDA, List Price $302,600, Sold for $359,097
VAC 4290 CAPE HAZE DR, CAPE HAZE WINDWARD, PLACIDA, List Price $23,500, Sold for $22,000
RES68 PALM DR, PALM ISLAND ESTATES, PALM ISLAND, PLACIDA, List price $699,000, Sold for $680,000
RES14038 COQUINA CT, CORAL CAYE, PLACIDA, List price $302,600, Sold for $359,097
RES1 PINEHURST RD, ROTONDA WEST PINEHURST. ROTONDA WEST, List price $274,900, Sold for $270,000
RES175 JENNIFER DR, ROTONDA LAKES, ROTONDA WEST, List price $354,900, Sold for $251,900
RES10380 LONGSHORE RD #75, LANDINGS/CORAL CRK, PLACIDA, List Price $329,900, Sold for $320,000
VAC9211 PINE COVE RD, PINE COVE, ENGLEWOOD, List price $174,700, Sold for $160,000
VAC9232 SPRING VALLEY RD, SHAMROCK SHORES, ENGLEWOOD, List price $159,900, Sold for $125.000
Based on information from the My-Florida Regional MLS, for January 6, 2017.
This information may or may not include all listed, expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.
Where in the world is Lake Gasparilla?
Did you know there is a gorgeous 40 acre lake in Boca Grande?
On the North Shore of Boca Grande situated between Gasparilla Road and Gulf Shores drive just north of the Boca Grande Club is Lake Gasparilla, it is a 40 acre private lake belonging to the Homeowners in the Gulf Shores North neighborhood. Originally just a small brackish pond with a small tidal creek that flowed in and out to Gasparilla Pass, Sunset Realty was able to get permits to dredge the lake and use the material to build up the roads. Being that it was a sandy bottom the material was perfect for the project . There are only a handful homes on the lake and for the most part those are at Seawatch, a group of duplex style Villas.
The only exception is a 3/4 acre peninsula that juts out into the lake along its western shore. 20 years ago a local family purchased the parcel and built their family home. The Idea was to some day develop the remaining 2 lots. However over the years they enjoyed the property as a family compound. The house they built ,as one might expect is positioned just perfectly to capture the majesty of the location. I have been fortunate to spend time at this compound and it is truly amazing the amount and variety of wildlife it supports. From Snook, Trout and a small school of Jacks to Osprey, Ducks, Eagles, Cormorants, Herons, Egrets, Ibis, and even a Bobcat have been spotted.
The Best of everything!
$1,595,000
Best Value! Over 3200 sf of living space, 4 bedrooms, 3.5 baths with extraordinary long water views. An additional 3729 sf of garage, work shop, climate controlled storage and ... Lowest price per sf in Boca Grande period! Best Quality! It's a Rutenburg! The quality and design leader of luxury homes in Florida since 1953. Best Location! Just a 10 minute golf cart ride to the Village.An enclave of the only 3 private home-sites on Lake Gasparilla. Kayaking, paddle boarding, and Sailing from your back yard. Best Beach! Boca Grande Club membership included. Beach chairs, towel service, tiki bar, gulf side pool, Gourmet dining, fitness center, and tennis, all just a 4 minute bike ride away! Best Golf! Coral Creek Club and Gasparilla Inn just 9 minutes away! Best Opportunity! Purchase the adjoining lakefront parcels below market, expand, invest or family compound? Buy it all for $2,560,250
Just a note we wont have professional photography until next week so look for some awesome Video, Aerial and interior pics in neXt weeks newsletter