Less inventory and more pending
contracts spell overall recovery. Yet, we have a thirty-three month inventory for homes over $1,000,000. Homes prices must reflect today's home values to attract buyers.
Wednesday, March 10, 2010
Monday, March 8, 2010
CHECK OUT OUR NEW LINK
Please look over to the right of this page and click on to our new link "LISTINGBOOK" to enjoy the same access to the MLS as we have. You may also visit the site by going to thecherrygroup.listingbook.com. You will receive by email your own log in information. Then go back to the site, log in and receive your own search page. Fifty clients are using it already and have emailed to say it's the best search engine and real estate information site on the Market. You can even do your own CMA (comparative market analysis) for your own home to check its value. As always, please call me at 305.607.8360 if you have any questions.
Thursday, February 4, 2010
FIRST OFFER IS USUALLY THE HIGHEST
Realtors know from experience that the old saying has proven true time and again,"The first offer is usually the highest offer". We can't tell you how many times clients have said they should have listened to us. When that offer comes in, especially in today's market, know the likelihood of getting a higher one is small. Of course there are bottom fishers, but we know when an offer makes sense to seriously consider,especially after opining with our clients that they might be listing their homes substantially over market value. We generate pricing advice from hard data on what has sold the last three months, just like appraisers. Listing too high will only generate offers that are too low.
Thursday, January 28, 2010
LIST NOW TO ATTRACT BUYERS SEEKING TAX CREDIT
The government tax credit for home buyers expires on April 30. First time buyers receive an $8,000 credit and current qualifying homeowners buying another property receive $6,500. The credit is given on home purchases up to $800,000. All projections I've read cite a slow-down in what is now a well-paced market after the credit expires. List with The Cherry Group now to capitalize on today's positive market environment.
Monday, January 25, 2010
TODAY'S HOT-BUTTONS FOR BUYERS
In a recent survey of home buyer preferences, there are 10 “must” features in new homes:
1. Large kitchens, with an island. If you’re going to spend design dollars, spend them where people want them—spend them in the kitchen.
3. Energy-efficient appliances, high-efficiency insulation and high window efficiency. Among the “green” features touted in homes, these are the ones buyers value most. While large windows had been a major draw, energy concerns are giving customers pause on those. The use of recycled or synthetic materials is only borderline desirable.
4. Home office/study. People would much rather have this space rather than, say, a formal dining room. The dining room has become tradable. And the home theater may also be headed for the scrap heap.
5. Main-floor master suite. This is a must feature for empty-nesters and certain other buyers, and appears to be getting more popular in general. That could help explain why demand for upstairs laundries is declining after several years of popularity gains.
6. Outdoor living room. The popularity of outdoor spaces continues to grow. The idea of an outdoor room is even more popular than an outdoor cooking area, meaning people are willing to spend more time outside.
7. Master suite soaker tubs. Whirlpools are still desirable for many home buyers, but they clearly went down a notch in the latest survey. Oversize showers with seating areas are also moving up in popularity.
8. Stone and brick exteriors. Stucco and vinyl don’t make the cut.
9. Community landscaping, with walking paths and playgrounds. Forget about golf courses, swimming pools and clubhouses. Buyers in large planned developments prefer hiking among lush greenery.
10. Two-car garages. A given at all levels; three-car garages, in which the third bay is more often than not used for additional storage and not automobiles, is desirable in the move-up and custom categories.
1. Large kitchens, with an island. If you’re going to spend design dollars, spend them where people want them—spend them in the kitchen.
3. Energy-efficient appliances, high-efficiency insulation and high window efficiency. Among the “green” features touted in homes, these are the ones buyers value most. While large windows had been a major draw, energy concerns are giving customers pause on those. The use of recycled or synthetic materials is only borderline desirable.
4. Home office/study. People would much rather have this space rather than, say, a formal dining room. The dining room has become tradable. And the home theater may also be headed for the scrap heap.
5. Main-floor master suite. This is a must feature for empty-nesters and certain other buyers, and appears to be getting more popular in general. That could help explain why demand for upstairs laundries is declining after several years of popularity gains.
6. Outdoor living room. The popularity of outdoor spaces continues to grow. The idea of an outdoor room is even more popular than an outdoor cooking area, meaning people are willing to spend more time outside.
7. Master suite soaker tubs. Whirlpools are still desirable for many home buyers, but they clearly went down a notch in the latest survey. Oversize showers with seating areas are also moving up in popularity.
8. Stone and brick exteriors. Stucco and vinyl don’t make the cut.
9. Community landscaping, with walking paths and playgrounds. Forget about golf courses, swimming pools and clubhouses. Buyers in large planned developments prefer hiking among lush greenery.
10. Two-car garages. A given at all levels; three-car garages, in which the third bay is more often than not used for additional storage and not automobiles, is desirable in the move-up and custom categories.
Tuesday, January 12, 2010
"WAIT-N-SEE" BUYERS ARE LOSING OUT
We're seeing surprised and saddened buyers missing out on their dreams because they waited too long, thinking our market has more price adjustment ahead. We have calls on two of our pending listings where buyers are incredulous their dream homes are under contract. On one luxury home we have a back-up contract for more than the accepted offer. The time to list or buy is right now.
Saturday, January 9, 2010
THE CHERRY GROUP CONTINUES AS #1
Coldwell Banker Residential Real Estate announces that The Cherry Group is again the Number 1 Realtors for Coconut Grove sales in its Coconut Grove Office. Named among its TOP 100 REALTORS IN FLORIDA, The Cherry Group has enjoyed a flourishing Real Estate practice for almost 20 years. Having virtually sold out our entire inventory, we're seeking new listings for the new year. Please call us for a confidential meeting to discuss the particulars in marketing and quickly selling your home at the highest price.
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