Chris says RIGHT NOW is the Time To Buy! "I think this is actually the biggest (real estate) bubble in U.S. history and possibly even world history." Robert J. Shiller, Stanley B. Resor Professor of Economics, Yale University. This bubble shrunk down and this cooling down of the housing prices makes it a great time to buy a home in Southwest Florida. Homebuyers in Southwest Florida have never had so many thousands of new and re-sale home choices and at prices that are truly unbelievable. (Anyway, Chris can't believe it). All types of homes available -golf course, waterfront, gated communities, single-family homes, villa and condo homes. BUYERS BARGINS. Chris wants to say please listen - this will not continue. Many many 1000's of homes are on market for 20% to 40% off in Southwest Florida. Take a peek at some typical reduced homes prices on our site then give Chris a ring. Just example of 1000's CHRIS' SAMPLE OF BARGINS Interest rates are low, and Southwest Florida property taxes and home insurance rates have been slashed - all in a beautiful, sunny, and prosperous area. So if you've always talked about owning a home here in our warm and wondeful Florida, contact Chris to get started. But don't you wait too long. |
PREMIERE PLUS REALTY, CHRISTOPHER LADD HARKER LLC, REALTOR |
About Us
I am MORTGAGE BROKER & REALTOR. My EXPERIENCES and SKILLS are many, I am a hard worker, and I feel I am a top notch person to assist you with your HOME MORTGAGE ....
CHRIS and DEANE DINING CHRIS IN AN OFFICE
Specialties: MORTGAGE BROKER, RESIDENTIAL REAL ESTATE, HOME BUYERS AGENT, FIRST TIME HOME BUYERS AND SELLERS, HOME SELLERS LISTING AGENT, CONSULTANT.
PREMIERE PLUS REALTY, CHRISTOPHER LADD HARKER LLC, REALTOR |
QUESTIONS SELLERS COMMONLY ASK----
When you work with Chris he will try to make sure you understand everything. This helps you to feel you can control what is happening and will keep you confident in the selling process. Read on......
Q. What are the important factors when I sell my home?
A. Chris feels the location is the most important, but you have no control over that. You do control your home's condition and selling price. Chris as your Seller's Agent will work with you on both of these. He has the tools to assists us with setting the appropriate selling price. He has the experience and judement to advise you on what things might be done to put your home in an appropriate condition for presentation to buyers.
Q. What things are sold with your home?
A. Objects that are attached to the house or property itself, whether they are nailed, screwed, planted or otherwise affixed, stay with the house and are included in the sale; light fixtures, built-in appliances. When Chris and Deane sold our home, we had expensive chandeliers and bathroom water faucets. We said in listing contract that we would replace these with an inexpensive substitutes, unless the buyers wanted to buy them. We itemized dozens of items that were negotiable this way.
Q. What is a Lockbox?
A. Most agents in Ft Meyers and Naples area use electronic boxes, which operate on an infrared system, so no old fashioned key is required. The box has a U hook that fits around the Door Knob. Below this hook is a key box that holds the keys to your home. This key box is opened when the agent points a remote control and a release mechanism is triggered. A built in cell phone, in the box hidden behind the key box, phones the central computer to see if this remote control is authorized with the proper password. The password is changed each night by the central computer when Chris puts his remote control into the telephone cradle at his desk. When the key box is released giving Chris the key to your house, a sensor records his user ID and phones it back to the central computer. Chris can query the central computer any time and find out which agents have visited your home and at what time.
Q. What is Seller's Remorse?
A. When you sell your home you might become worried and fearful that you've made a mistake by selling. You feel maybe you sold your home for less than it's worth. Or maybe you sold a home that was irreplaceable and you will always miss it. This is seller's remorse and it happens when you are beginning to have doubts about your ability to do something so complicated as selling your house. Choose a really good real estate agent and fully understand what is being done and why. When you do in fact participate in the selling process, and take the opportunity to question things as they happen and even cause somethings to be done differently, then you feel confident about the whole process and its outcome (the successful sale of your home with your participation and thoughtful guidance).
Q. What is Escrow?
A. An escrow is a bank account and officer in charge of it, who is a neutral person who holds all of the documents and funds related to your homes sale and simultneous purchase process. The account will be opened as soon as a buyer gives an earnest money deposit to the agent to demonstrate to you as the seller, that the buyer earnestly desires to buy your home. The escrow account and officer may be an attorney, escrow agent, or title agent. The money will be held on account until the closing of title when it will be turned over to the sellers. In Florida, the money can earn interest at the request of the payer. Some of the states where Chris has been licensed require that all escrow money be paid interest. But here in Florida you must formally request it.
The laws are very clear on dispostion or disbursement of the escrowed money by the esrow officer.And the rulings by the courts always favor the seller. Many a buyer has lost their earnest money deposit to the seller in contract disputes. The most common of these involve the lender promising the buyer that the buyer would get a mortgage loan, the buyer then releases the financing contingincy in the purchase contract, then three days before closing, the lender withdraws their promise because they learned of undisclosed information about the buyer. The buyer cannot purchase the home since the loan fell through. This is an open and shut case. The escrow officer will be directed by Florida Real Estate Commission to disburse the money to the seller.
Q. What is Agreement of Sale?
A. This is the most important document in sale of your home. It is the contract that specifies the terms of the deal. The agents involved prepare and present this to the sellers and buyers It specifies the names of the parties, a description of the property taken from the deed, the sale price,and provisions such as how much is the deposit, what items such as appliances convey, what inspections will be needed, who pays the cost of needed repairs, how long does the buyer have to obtain a committment for a mortgage, etc
Q. What is the Closing of Sold Home?
A. This is the formal meeting of the seller and buyer with their closing agents who are attorneys or title agents. They can all be together or more usually the buyers and their closing agent meet and the sellers and their closing agent meet. Or often the paper work will be done by the closing agent(s) and forworded by courrier to a party such as specially designated real estate agent or bank officer. Then the buyer or seller will meet with that designee. For three of the last Close of Sale that Chris and Deane had for their own homes, Chris was in one state and went to a designee and Deane was in another state and went to a designee, after their closing attorney had forwarded needed paper work to the two designees.
The closing agents will work with the lender(s), the real estate agents, the title insurance companies, and other services, they will calculate where all the dozens of different categories of money are disbursed, finalize all the legal documents, explain all documents to the buyer seller, be certain all signatures are correct, record all documents at the court house, and send out all the money. This all takes about five days. It is infrequent, but some problems can come up after the closing.
Q. What is Property Disclosure?
A. Florida law does require you as the seller to disclose to the new buyer, all material defects about your home that you are aware of. Florida has a form that the owner fills out, and on the form you go through all the list of material items and check yes, no, don't know. Then you sign the form as truthful. It is important for you to make an effort to fully disclose everything you know about your home. What the law is looking for as a material fact includes facts about the house's condition (roof leaks) and legal issues (bathroom redone without a permit) that could negatively impact the home's value.
Q. How do I know what to sell my home for?
A. Deciding a listing price for your home is one of the more important decisions you need to make. If you price too high, potential homebuyers will not look; if you price too low, you may leave money on the table. Two methods are used to calculate a price: the comparative market analysis (CMA) and a certified appraisal report.They both compare the list price and final sale price of homes similar to yours that are in the same neighborhood and factor in the home's condition, and amenities, such as a view, that may increase the value of your home.
Q. Can I sell my home for less than what I owe on it?
A. This is called a Short Sale and it depends on the lender. Maybe the lender will let you a part of the difference between the sale price and loan amount, and the lender will write off the rest as a loss. which still must be paid. The lender may need to get permission from Fannie Mae or Freddie Mac or the PMI insurance company.
Q. If I am going to sell my home at a loss, can I deduct this from taxes?
A. The IRS does not allow this to be deducted. Chris has a friend who did one thing to make a deduction allowable. She knew in December that she was going to move to another state in June. She placed a small home-for-rent ad in the classifieds for a month to month rate of $45. She listed the house in the MLS in June and moved. The home had a buyer in October. The fact that she had actively pursued a renter for 12 months, made the home an investment property. She deducted the capital loss at the rate of $3,000 per year for six years.
Q. Do I have to pay taxes on the money I receive for my home?
A. No. You pay federal income tax on any Capital Gain Income from owning the home. And the first $250,000 ($500,000 for couples) of Gain is exempt from taxation. Gain is the difference between what you paid to buy and improve the home, and what you sell the home for. The tax rate for Gain is significantly lower than the tax rate for regular ordinary income. You also must have used the home as a residence for at least two of the five years before the sale.
Q. Is it better to sell or buy first?
A. This depends on the situation. In Oct 2004, Chris calculated that it was THE right time to sell in Daytona and buy in Naples. He felt that if he did not sell by end 2004 or early 2005, he could not sell for maximum price. He sold in May 2005. He figured the time to buy in Naples was immediately. He bought in December 2004. So he bought 6 months ahead of selling. It was a gamble that paid off well. ( by summer of 2005, the house he bought in Dec 2004 went up in value and the house he sold in May 2005 went down in value ). Can you make two mortgage payments if you would wind up needing to? If the answer is no, then you have to sell first. But then where do you put all your things and yourself if you don't own another home to go to. If you sell first, it frees up your equity and tells you for sure what home you can buy on your next home. If you cannot cover double mortgage payments, you can try to take a bridge loan, a short term loan that bridges the period between the sale of your current home and the purchase of your new home.
Q. Could you explain some of the Newspaper abbreviations?
A. Here are a few of the mystery words.
The first home Chris sold in 1976 was 3 br, 2 ba, crpt
Q. Is it OK to let my buyer move in to the home before inal closing?
A. Sometimes the buyer wants and needs this. Boy is it risky. Chris as Seller's agent would say perhaps when there is a construction permanent mortgage, and the buyer has effectively bought the home before it was built. But much can blow up. The loan might fall through. These owners-to-be are actually renters and they may damage the home, and then the loan falls through. They may start modifying the home by painting, or building a deck. The worst night mere which does happen is they burn the home down, and then who wants a burnt down home. If it seems just absolutely necessary it can be handled with a standard contract addendum that covers early buyer possession.
 | Got a Question About HOME SELLING? Call CHRIS today! OK You Can't Miss With Chris |
THANKS. Christopher Harker
YOU CAN'T MISS WITH DEANE and CHRIS
CALL US NOW - DON'T YOU WAITBACK PAGE BACK page
PREMIERE PLUS REALTY, CHRISTOPHER LADD HARKER LLC, REALTOR |
Some people try selling their home by themselves for a TRIAL period and regret it. Read on.....
Robert Irwin is an accomplished real estate expert and author and former Broker. Chris owns 10 of his works and has learned much from them. Just look over some of his four dozen books at the private LANDLORD AGENCY. Mr Irwin is author of The For Sale by Owner Kit where he says "I always recommend trying a fizzbo before listing with an agent. Hang a sign out front for 30 days and see what happens. The guy next door may want it".
JUST ONE EXPERIENCE FROM CHRIS: Years ago, Chris would recommend this to friends and family, until his friend got badly injured. His friend who wanted to list with an agent, at Chris's insistance, put up a FSBO sign, just to make a "trial run". And after 30 days with not one visitor, he listed it in MLS with an agent.
A couple across town found out (because it was in MLS) about it being for sale and said "John we have been admiring your house on the water for years. We wish we would have known it was for sale. We just purchased an MLS house through our Agent." It took John 9 mounths to find a buyer.
What Chris learned was, for every single day that your home-for-sale is not given full and complete exposure to the market place of buyers, you may be missing a one and only buyer for your home.
THANKS. Christopher Harker
YOU CAN'T MISS WITH DEANE and CHRIS
CALL US NOW - DON'T YOU WAIT
PREMIERE PLUS REALTY, CHRISTOPHER LADD HARKER LLC, REALTOR |
Some people try selling their home by themselves and regret it. Read on..
Selling your home yourself, without having an agent represent you, is a transaction commonly referred to as a For Sale By Owner or FSBO ("fizz-bo"). Some people who have tried the FSBO route and lost a lot of money by doing it, refer to it as FSBI ("fizz-bee") or For Sale By Idiot. There are several reasons to use a seller's agent to represent you in the selling of your home.
AARP: Don't be "penny wise and pound-foolish." A lot is at stake when you sell your home. It is not simply a matter of finding a buyer. Legal documents describing the responsibilities of the buyer and the seller must be prepared. State and local laws and rules must be satisfied. Some people may be knowledgeable enough to handle these details on their own, but most of us need help.
CNN MONEY: Hesitance to pay a broker's fee, which often is as high as 6 percent of the sales price, can also backfire. Selling a home on your own can be a boon to your bottom line, but it's a lot of work and if you don't do it right you may give up and go with a commissioned real estate agent anyway.
Equity Title Company: It's always a good market in real estate - when you know what you're doing. Structuring transactions, arranging financing, and finding the right buyers are some of the keys to success. And no one knows more about the trends in today's market than your local real estate broker or agent.
Forbes: You might look to save the commission by not hiring a real estate broker, but that could very likely translate to a lower offer from a savvy buyer who realizes you are doing just that. You need to hire a real estate agent with a reputable company in your area that can demonstrate a track record of successfully marketing and selling homes like yours. A sign in the yard and some newspaper ads just won't do the job anymore. Your agent needs to apply a sophisticated, fully integrated marketing approach, which would include distinctive signage, multiple Web listings, editorial media-type coverage, and even first-rate direct mail.
Home Connections, Inc. David Hollies: You want to sell your home for the best price. Start by enlisting a real estate agent and making a list of needed projects, to maximize the potential of your home. Use this list to determine what to do before listing your home for sale.
House Selling For Dummies: You may not know how to price property. If you underprice your house, you may sell it below its market value - shortchanging yourself thousands, perhaps even tens of thousands, of dollars. Say good-bye to the commission you "saved."
THANKS. Christopher Harker
YOU CAN'T MISS WITH DEANE and CHRIS
CALL US NOW - DON'T YOU WAIT
PREMIERE PLUS REALTY, CHRISTOPHER LADD HARKER LLC, REALTOR |
How do you set a listing price... Read on
It is a fact that when buyers look at your home, they are always curious about what you paid for it. Well this is a public record at the courthouse. And of course the price you paid for your home has nothing to do with what you are asking for it today. Chris paid $50,000 for a home which today is worth $35,000 and Chris paid $50,000 for a home which today is worth $800,000. So what.
The price that you list your home for, will not be related to three things. What you paid for it at some past time. What you could have sold it for at some past time. What you perhaps can sell it for at some future time. Chris' nearby neighbor paid $250,000 for a home in 2000. He could have sold it for $650,000 in 2005. He will likely be able to sell it for $1,000,000 at some time in the future. He has it MLS listed in 2007 at $500,000.
The price you list your home for today will be the 'fair market value' if you in fact wish to sell it. Some agents will suggest unrealistically high asking prices. This is called in the business, buying the listing. You need to be cautious when agents you interview suggest listing at a price that is out of line with the prices of other homes like yours. Maybe someone will pay too much for your home. But buyers are generally too smart to overpay. And the higher price (beyond fair market value) will hide your home from the eyes of a possible buyer.
There are plenty of agents who will list your home at a price that is to high (and too low - need be careful here too). Later when your home does not sell, these agents start suggesting big price reductions. To get the attention of the buyers and their agents in your area, give your home a fair market value price from the very start.
When Chris as your Seller's Agent lists your home, he will use the computer to prepare his own special comparative market analysis (cma) for you, called PHPP (Personal Home Price Package). This will show you the data about the relevant recent sales nearby your home that are comparable to your home. This will include any recent listings that did not sell. This is our beginning point to figure out a price. Chris as your Seller's Agent will advise you on a few other things which we may need to consider in order to possibly adjust the PHPP (Personal Home Price Package) indicated price.
Using this information and good sense judgements, you as seller and Chris as your agent, should be able to arrive at an appropriate listing price.
THANKS. Christopher Harker
YOU CAN'T MISS WITH DEANE and CHRIS
CALL US NOW - DON'T YOU WAIT
CHRISTOPHER HARKER
CHRISTOPHER LADD HARKER LLC
Office Phone: (866) 738-5517
Cell Phone: (239) 682-0182
;)
Links;)
Archives
Find FL real estate agents and Naples real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2009 ActiveRain Corp. All Rights Reserved
