Wednesday, January 28, 2015

Selling in Venice? Stage Your Home for a Higher Sales Price

A first of it's kind survey by the National Association of Realtors (NAR) reveals that buyers prefer a staged home that appeals to their tastes, and that proper staging results in a higher sales price.

Keep in mind that for today's buyers, staging goes beyond a sparkling clean home and a clutter-free environment.  Staging with color and furnishings helps a buyer visualize their belongings in the space.



In the survey, 93% of real estate agents who work with buyers said they thought a well-staged home contributed to a positive impression of a buyer's view of the home.  46% of agents thought a staged home contributed to a buyer's willingness to tour the home in person after viewing it online.  Forty-five percent said a home decorated to a buyer's taste positively impacted its value.  

When it comes to selling the home from a listing agent's perspective, the view of staging is a bit different.  One-third of all Realtors use staging all the time, while 13% use staging for a home they perceive to be difficult to sell.

The median price spent on staging a home was $675.  According to the survey, most Realtors thought staging resulted in a 1-5% sales price increase.

Question:  Would you spend $675 to make an additional $2,000 to $10,000 on the sale of your home or condo in the Venice or Sarasota area?

Florida Scrub Jays

If you are buying real estate in Sarasota, Manatee, or Charlotte Counties in Florida, you should be aware of protected scrub jay habitat.

Read about real estate and Florida scrub jays on davidbarrhomes.com
Florida Scrub Jay, protected by US and Florida Fish and Wildlife Services

I just added a page on my website www.davidbarrhomes.com with more information about scrub jays, with links to maps and county resources.  Look under FAQ on the main menu.

Tuesday, January 27, 2015

Analysis Paralysis

It has struck yet another buyer new to the Venice and Sarasota real estate market:  analysis paralysis!



Our market is moving too quickly to fall prey to the understandable urge to ask lots of questions surrounding the purchase of a home or condo in our area.  Besides, if a property has been on the market for 8 months, it won't sell right away, will it?

The answer is most likely yes, it will.

I see it time and again.  Buyers just don't have the luxury of being able to wait to make up their minds about moving forward with an offer.  We have a shortage of housing inventory and an overabundance of shivering snowbirds just chomping at the bit to snap up their slice of paradise.


Friday, January 16, 2015

Garage to Bedroom Conversions

In Venice, a lot of homes have 2 bedrooms.  Since so many buyers and investors come from out of the area, they are conditioned to believe that converting a garage space to a 3rd bedroom creates value and increases demand.

That's not necessarily the case.

3br home with garage conversion in South Venice

I picked the South Venice area to compare the most recent sales of 2 bedroom homes, and 3 bedroom homes without garages that were obvious conversions, over the past 90 days.

2 bedroom homes sold for a median price of $134,000 at $96/sq ft, and sold within 37 days.

3 bedroom homes without garage sold for a median price of $139,900 at $82/sq ft, and sold within 55 days.

Why is this type of 3 bedroom home actually less valuable?  The two major reasons are that Venice attracts retirees that don't need 3 bedrooms, and buyers and tenants are interested in covered, secured parking.

Thursday, January 15, 2015

Excellent Tool for Venice FL Real Estate Investors

Our MLS has a great tool that most agents don't seem to be aware of.  It's called RatePlug.

RatePlug takes the current list price of the property and factors in mortgage payments, HOA/condo fees, taxes, PMI, and property tax and insurance, to give buyers a complete picture of the property's monthly ownership expenses.

This tool is particularly helpful for investors to calculate potential cash flow.

I have enabled the RatePlug feature for all my customers.  When you see this logo in the property reports:

you can access the information.




Click here for a live demonstration of how RatePlug works:  http://mfr.mlsmatrix.com/Matrix/Public/DisplayITQPopup.aspx?iid=1&did=191&params=52%20MTYwMzMyNTA4&exk=d15e416ecc590ea5b6bef34f1007fd2e

Wednesday, January 14, 2015

Venice FL Real Estate Investment Alert

If you're an investor looking for Venice FL real estate, here are three currently available properties for sale you may want to consider.

1) 2/2 villa in popular neighborhood near beaches and shopping.  List price $75,000.  Renovated comps in same community are selling starting at $125,000.

2) 2/2 single family home, bank owned, in South Venice.  Terrazzo floors throughout, needs cosmetic work but tons of curb appeal and open plan with 1300 sq ft under air.  List price mid $80's.  Fix and flip with a potential list price in the $140's, or polish it up for cash flow.

3) The best currently available single family home on Venice Island is a 2/1 with volume ceilings and open plan, just blocks from deeded Golden Beach access.  One look and you'll see this could be a great potential seasonal rental, sold turn-key furnished.  Listed just under $300K.

Contact me for more details and to schedule a showing.

Monday, January 12, 2015

2014 Sarasota, Manatee, and Charlotte County Median Sales Data

I just updated my website with 2014 median sales price for condos and single family homes in my 3-county service area:  http://www.davidbarrhomes.com/#!real-estate-prices-venice/c198a


2004-2014 median sales prices by property type and county

If you have been looking since 2012 and still haven't purchased your Venice FL area retirement or seasonal residence, the median sales price of a single family home in Sarasota County has increased by $40,000.  Among condos, the median sales price increased $32,000 between 2012 and the end of 2014.

We are continuing to see low inventory levels and strong buyer demand.  Contact me if you are thinking of selling or are ready to buy.


Wednesday, January 7, 2015

Use the BREAK Principle to Sell Your Venice FL Home

If you're thinking of selling your Venice FL home or condo, using my BREAK philosophy will help you get a quicker sale for the most money.

B  Be hospitable, accommodating, and flexible in allowing the home to be shown;
R  Remove breakable or valuable items from plain view;
E   Eliminate clutter such as personal photos and decor that you will be packing up anyway;
A  Always have your home clean and ready as if your best friends were coming to visit;
K  Keep, donate, or throw away, to make your eventual move easier.

You can get a no-obligation home value analysis on my website, and you can also see comparable homes for sale in Venice from the MLS.


Thursday, January 1, 2015

Technology Gives Buyers the Edge in Venice FL Real Estate

Happy New Year!  2015 is off to a good start and I thought it was a good time to highlight a service I provide to buyers in Venice, Nokomis, and Englewood will help you compete and win in a very active market.

The past 2 days have started me thinking about technology. I have taken video previews of 2 separate homes for sale for long distance buyers (one of those days being today, New Year's Day).  Many times, buyers don't have time to make an offer during their in-person visit to our area, or by the time they familiarize with a preferred neighborhood, the homes they viewed are already under contract.  This is where my video walk through tour comes in handy for long distance buyers.

If you are thinking of hiring a buyer's agent, or are working with one that isn't quite a good fit for you, it's time to consider the growing disparity in an agent's time spent in the real estate field, and their ability to use technology to make the real estate experience efficient and effective for buyers and sellers.

I've seen it a million times: Many "experienced' agents are averse to new technology.  For example, can an "experienced" agent provide you a video walk through tour, and then efficiently share it with you?  Can an "experienced" agent prepare offer documents for you, for electronic signature?

When you're ready to hire a Venice FL Realtor, I look forward to speaking with you.