(954) 547.4601


srathe@comcast.net

Friday, October 14, 2011
Tags:   home sale, miramar, Market Update, realtor, Florida, sandra rathe

September surprised me with a lot of activity from buyers looking in our community. I listed 7 new homes in Sunset Lakes in September and put 6 homes under contract within the month. Usually September is a slower month than the earlier part of the year as a lot of people have settled down for the school year. This year I saw an increase in corporate relocation which had been very quiet for the past few years. The increase in buyers looking for immediate occupancy is great for our community as we need to continue to have strong regular sales closing each month or we will not have good comparables for future sales. With only short sales or foreclosures closing we will have lower appraisal values making it more difficult if not impossible to close your home for a good price. Right now we have very good comparables for homes in the $300 - $500,000 price range. Prices above $500,000 are more difficult to support right now due to a lack of sales in this price range.   This does not mean it is impossible it just means the listing agent needs to work harder. The listing agent will need to put together a great packet of information for the appraiser. Information should include the best comparables and a list of amenities that will support the highest price possible. Developing a rapport with the appraiser is also imperative. If the appraisal does come in low the listing agent will play an important role in trying to convince buyers to pay above appraisal value which means they will have to bring more cash to closing and they may feel like they are underwater from the beginning. It is difficult to get buyers to pay above appraisal value but its not impossible, you just need to have a strong agent who can provide good support for why they should. 

The first few days of this month are good indicators that we will continue to have a strong market into October. Please give me a call if you would like more information about what’s happening here in Sunset Lakes real estate.
Sincerely,
Sandra Rathe, P.A.
EWM Realtors 954-547-4601
Your Sunset Lakes Specialist Rathe.S@EWM.com
Chairman’s Club Member www.SandraRathe.com
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