Use an Effective Pricing Strategy to Sell Your Naples Home Efficiently

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

Pricing Homes Effectively for Efficient Sales

Today we're here to speak with you about effective home pricing because it's an issue that we've been hearing about on some recent listing appointments

We understand that the real estate market in Naples has shifted, and it is what we would now call a normal market. What this means is that we are seeing homes coming on the market, getting regular offers, and then selling in an average time frame. Another property may come onto our market and sell for a little more than others may have, but we're not seeing huge price gaps like we had been experiencing in the past.

Our current inventory is steady and sales prices are proportionate to active listing prices, so this points to a neutral market here in Naples. Because of this, some home sellers assume that they can price their homes very high to begin with, and then lower their asking prices if they're not receiving any good offers. 

Starting with a lofty listing price and then leveling out is a foolhardy pricing strategy because it will likely net you less money than pricing your home moderately and attractively, and it will also shrink your pool of buyers. When a buyer sees that your home is priced unreasonably, he/she will probably not even entertain the idea of looking at it again. You essentially price yourself off of the market if you price too steeply.

When you price your home effectively you make buyers compete over your property, and thereby raise your sales price through competition. A good price brings a steady pool of buyers that will be willing to pay a little extra for your property because they see great value in it. Overpricing the property typically results in fewer showings, a shrinking pool of buyers, and longer days on market, which produces lower offers. Create value and competition for your home through pricing!

What you really need to ask yourself is why an agent would tell you that you can sell your home for more money when comparable sales in the same area say otherwise? When you sell your property you need to be aware of what other properties are selling for in your area. Ultimately, it's the market that will determine the best listing price for your home. A realtor can tell you that they will be able to list your home at a higher price than other agents, but this does not mean that your home will be selling for that price, if at all.

When our team meets with you, we will show you all the active listings in the area, and any pending or recently closed sales.  This will aid us in understanding the nuances of the market landscape and how it is going to affect the sale of your home. We will not price your home blindly or make any uniformed decisions. We realize that your real estate transaction is of the utmost importance to you, and we will only make decisions with the highest degree of certainty that they will benefit you.

If you have any questions about how to attractively price your home so it will sell in our real estate market in Naples, then please give us a call and we would be glad to discuss our proven pricing strategy with you.

You can call us at (239) 595-8500 or email us at sold@thesaadteam.com

Home Deposits may be Refunded Depending on Your Contract

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-659-5145.

Home Deposits may be Refunded Depending on Your Contract

I'm back with you today to discuss home deposits and whether or not you can get your money back after you have made an offer. Our guest today is real estate attorney, Sam Saad, President of Paradise Coast Title and Escrow.

This is a question we hear time and time again, and will refer this one to Sam who can lend a hand in explaining. As a practicing attorney, Sam wants you to know that these instructions are not considered legal advice, and that if you do seek legal counsel, then you should consult an attorney who can explain your rights to you while under contract.

It Depends on the Type of Contract you Signed

Going forward, Sam says that a deposit is refundable in certain cases depending on what type of contract you signed.

     - If you signed the NABOR Contract, which is standard in Naples and Collier County, then your deposit is only refundable if you comply with the necessary inspection and finance provisions. These provisions are laid out very thoroughly and meticulously in the contract. 

For example, if you have gone through the inspection criteria and the seller refuses to comply with your requests, then you would get your deposit back. 

If the seller accepts a credit towards the property or goes through with the requisite repairs, then you would not receive your deposit back.

     - If you signed the FAR/BAR Contract, then you may also get your deposit back. However, you still need to comply with the inspection and finance provisions within the contract. You can find more information about this contract here: https://www.floridarealtors.org/LegalCenter/HotTopics/Florida-Realtor-Florida-Bar-contracts.cfm

     - The FAR/BAR As-Is Contract is very popular in the Naples area. This type of contract is most often associated with distressed home sales, and within the document there is a provision that allows the buyer a 15 day free-look:

Essentially, this allows you to sign the contract, put down your deposit, and after that you may conduct the necessary inspections. Within the 15 days you have the right to back out of the contract (for any reason whatsoever) and you will receive your deposit back - no questions asked.


The NABOR Contract that was mentioned earlier also has an As-Is addendum, which makes it a very safe contract for buyers.

You Need to Know your Options

Placing a deposit on a home may seem like an irrevocable act, this is not always the case, be sure to understand the contract that you're signing and are aware of your options within that documentation. As always, consult an attorney for representation if you have any sort of doubt as to what rights are afforded to you.

Do You Know Why Florida is a Great Place to Purchase Real Estate?

Do You Know Why Florida is a Great Place to Purchase Real Estate?

Today we have Sam Saad III joining us. Sam happens to be a real estate attorney here in the city of Naples and a member of the Naples city council. The reason we brought him along today is because as a real estate attorney, he deals with a lot of closings. As the president of Paradise Coast Title and Escrow, this also happens to be his specialty!

Today we wanted to talk to you about the importance of applying for Homestead. In Florida, homestead is something you can apply for when you own a property. However, as an attorney, Mr. Saad III has to remind you that this is not legal advice and if you have specific legal questions that need to be addressed by an attorney, you must do so accordingly.

Homestead in Florida is very complicated. Under the Florida constitution, Homestead is provided four protections with them being:

Real Estate Tax Exemptions 

Out of the four protections, this is the most talked about. 

In essence, as Sam Saad III explains, if you are approved for Homestead, you receive a $50,000 tax credit against the valuation on your property taxes for your ad valorem and a $25,000 credit on your school taxes.

What this means is that when the assessor comes to your home, they assess your property at a certain valuation that may not be the same as the sale price. The deduction is coming off what the value the assessor has set. Sam Saad III also added that once that assessor puts that valuation in place, the Save Our Homes Exemption provides a cap so the assessor cannot raise your taxable value (bear in mind this is different from your assessed value) by more than 3% per year. As you are most likely familiar with Florida real estate, we are prone to boom and bust periods. Sam states that this was put in place so you don’t feel giant increases in your property taxes. These are two great protections for people purchasing homes in Florida!

Debtor Protections

If a property is your Homestead, whether you are married or not, liens cannot attach to that property if a judgment is rendered against you and the person cannot take away your Homestead. Mr. Saad III noted that there are two important exceptions to that rule.

Three Exceptions

1. The first exception being that mortgage lenders can foreclose on your property if you don’t say your mortgage.

2. The second exception is that if you live in a mandatory homeowners association, the homeowners association can place a lien on your property.

3. Also bear in mind that credit card judgments and personal lawsuits, for example, do not attach to your Homestead. However if you do not pay your taxes, Federal laws generally override the state constitution. Mr. Saad III reminds us again that if there are Federal tax liens on your property, please consult your attorney to determine what your rights are. There are many exemptions and this must be dealt with properly.
For people who are looking to file for Homestead in Florida, Mr. Saad III tells us that you have to close on your property by December 31st and file for exemption by March 15th. If you did purchase your property last year, it’s important to file for your property tax reductions right away! The moment you move in your property and declare it your homestead, you receive the Debtor Protection. The other two protections do not relate to sales.

The one issue that does come up in closing is the fourth protection, the Restraint on Alienation. A husband and wife that own the property as joint tenants cannot sell the property out from the other. Essentially, it takes one to buy and two to sell.

This may seem a bit overwhelming, but Florida is a great state for Homestead! Sam states that we highly value it, the courts respect it, there are great tax exemptions and that it is a fantastic way to own your property. To learn more about Homestead, visit http://www.collierappraiser.com. If you would like to contact Sam Saad III, his information is Law Offices of Sam J. Saad III PA. 851 5th Avenue North Suite 306 Naples, Florida 34102. His phone number is 239-963-1635 if you would like to reach his office. If you have information to fax, his line is 239-791-1208.
 
Thanks and have a great day!