St Cloud Florida Home Prices Inching Higher

Looking for your next home? St Cloud Florida Homes for sale will cost you more than they did just six months ago.  On average about 12% more.  The reduction in the amount of available homes, has created an increase in sales price. While sales have been brisk nationwide, and recently the TV news has announced that home the housing market appears to be improving, those buyers who were “on the fence” will no doubt be paying more than those who acted while the market reports were bleek.

Some Realtors® are reporting that Appraisals are still a problem as they are based on recent sales, they generally lag slightly behind market valuations Realtors® use when pricing homes. Additionally some sellers have been holding out waiting for the market to improve and have priced their homes too high to clear the appraisal obstacle for financed purchases.

Pending sales are those which have yet to be completed-sort of like being in the bullpen warming up before being put in the game. These properties which are under contract are at the leading edge of the market.  They are waiting to close. They rely on sales which closed before them and will help determine sale that follow them once they have reached the closing table.  On average sales fail three times before they are successful.

The primary reason for this is failing to achieve the appraised value. One third are cancelled because buyers change their minds, or grow weiry of waiting for banks to counter their offers. When they do they are usually not within a range the buyer is willing to pay.

We have seen a sharp rise in foreclosed (bank owned) properties in need of work counter offering at prices that are unacceptable to buyers who must make the repairs.  The discounts once offered on “Distress Sales” are indeed diminishing as Lender scrutinize achieved sales and are pricing their properties comparable to those prices. But are they really comparble? Usually not.

Investors have been buying for over two years when prices hit rock bottom in St Cloud back in late 2010 and throughout 2011.  They could pick up older homes sharply discounted, make the repairs and updates and turn those sales around at a respectable profit.

Banks have responded, by raising the bar on what they will accept for their distressed properties by offering them at much higher prices than they did a year ago. Despite the fact they may need thousands of dollars of work.  Thereby decreasing the investors incentives for quick flips and higher profit margins.

For the average buyer or first time home buyer what is available on the lowest rung are generally homes which need a large amount of renovation.  If you want a “turn key” move in ready home you will be looking at paying $20-40,000 more that you would have just last year.  The trend is expected to continued as lender are tightly controlling both the borrowing end (financing) and the selling end at releasing the foreclosed homes in their inventories.

First Time Home Buyers Learning the Ropes in Real Estate

LEARNING THE ROPES OF HOME BUYING– Most first time home buyers are not sure where to begin; but 87% of them will start on the Internet. Another 30% drive through various communities, and make call sign calls to various agents on homes they see are for sale.

Let us show you the Ropes St. Clpud Homes & Land, LLC 407-616-9904 Few agents use “Sale Pending” signs at least in my area of St.Cloud Kissimmee Florida. First time home buyers often find out too late the home they liked on the drive by is already off the market or “pending” which mean it has a contract on it.

Knowing how the Real Estate business works can save you lots of headaches down the road and help you avoid conflicts between agents and agencies. Real Estate is a commission based profession.

LEARNING THE ROPES OF HOME BUYING

1) “KNOW BEFORE YOU GO” Getting Pre-Approved for a Home Loan. Any bank, credit union, or mortgage professional can pre-qualify you for a Home Mortgage Loan. It is fast, easy and free. Once you know how much home you can afford; then the next step is looking at homes which meet that budget.

2) ONLY YOU….

It is very important that you work with only one agent when buying a home. Interview several but choose only one you feel comfortable with. They will work with you fine tuning your search, saving you time and money wasted exploring homes which do not match 100% what you are looking for and can afford. They should be good communicators, skilled negotiators, and understand what exactly you want. The should return phone calls in a timely manner and be flexible depending on your schedule.

3) Don’t Procrastinate- Keep the End Result in Mind.

Well priced homes in the lower end price ranges sell fast. When you begin looking keep the end result in mind- to buy a home. Waiting to make an offer means someone may beat you to it. So when you find the home you like, be prepared to make that offer in writing.

4) Ask Questions

Do not be afraid to ask questions. You agent should be a local area expert, and if they do not know the answer to a particular question can be a great “source for the source” they may help guide to to where you can find that answer. Also they are invaluable when it comes to researching the market conditions, past sales and helping you to evaluate what the fair market value is.

Homes & Land, LLC,. A local St Cloud Florida Real Estate Brokerage.

Committed to excellence and superior customer service, the emphasis has always been on Unparalelled Customer Service which begins with YOU. St. Cloud Homes & Land, LLC has performed consistently and grown over the years. What makes us successful is our commitment to you.

Knowing a little about us is nice, but Focusing on what is important to you is what we do best!

Whether Buying St Cloud Florida Homes & Land, or Selling St. Cloud Homes or Land, Allison will take the time to find out what is important to you, answer your questions, and share important information on current market conditions.

Licensed and Certified we specialize in ALL aspects of residential Real Estate. From contact to closing we are with you every step of the way, answering your questions, overcoming obstacles and getting you to the Closing table as stress free as possible. Our team consists of like minded, friendly knowledgable Sales Associates who offer outstanding Customer Service. We guarantee you love what we can do for you in making your Home Buying or Selling Experience with us a good one.

St.Cloud Homes & Land, LLC is a full service Licensed Real Estate Agency Providing OUTSTANDING customer service and commitment to excellence for its clients. The best in business, call us 407-545-8002

St.Cloud Homes & Land, LLC
Providing Professional Real Estate Services
2490 Bronco Drive
St. Cloud, FL 34771
Phone: 407-545-8002 | Email: Allison@Kissimmee-stcloudflhomes.com