Selling a home in Coral Springs? Did you hear what sold at the beginning of the new year in January 2012?

Coral Springs single family home sales Decreased this month by almost 33% to 53 homes sold; quite a decrease yet in line from a year ago 2011 as January typically is not a strong month for home sales. Of these Coral Springs homes listed for sale below, almost 27% of them sold as a Short Sale, which is a increase from last month Short sales of 23%. Whereas, about 8% of the homes sold were REO/Bank owned which is another decrease from last month’s 13% which signifies the impact the onslaught of robo signing foreclosures had on the current distressed property owner as Lenders are now making sure their I’s are dotted and their T”s are crossed due to the fraudulent foreclosing of the past. This has decreased REO/Bank owned homes on the market for sale thus affecting number of sales. However, I don’t expect this to be the case for months on end as the inventory levels of REO/Bank owned will likely increase again as Lenders ramp up foreclosures over this year.

Increasing this month, almost 42% of homes sold in Coral Springs were distressed properties during January 2012; those homes that have been foreclosed on and those homes which are trying to avoid being foreclosed upon. If you’re selling a home in Coral Springs, you can continue to expect to be competing with the distressed property reflecting on home selling prices.

To compete with the distressed market, there are many things that a Coral Springs Seller can do to make their home stand out from the competition. Check out: Selling your home in Coral Springs – what it takes.

More homes for Buyers to select from will keep prices down for Sellers and less homes available for Buyers will let home prices rise. This month, Sellers will be pleased with a stable January Absorption Rate at 5.77.  This indicates that based on the current available homes for sale, it will take 5.77 months to get them sold. Sellers want a lower Absorption Rate like this indicating a greater demand for homes as this shows that there are less homes available for Buyers. Buyers will always beg for a higher Absorption Rate as this means they have more to select from providing Buyers with an increase in opportunities for reduced prices.

What neighborhoods in Coral Springs Florida had the most sales?

If you’re selling your home in Coral Springs or considering selling your home, take a look at what neighborhoods had home sales. The neighborhoods of Heron Bay sold 4 homes this month, Eagle Trace communities of Fairways, Georgetown, and Hamptons had 3 home sales along with the neighborhoods of Ramblewood South, The Crossings and The Preserve/Woodside Estates. Lastly,  Cypress Glen, Cypress Run, Kensington, Pine Ridge and Turtle Run all sold 2 homes. There were other neighborhoods in Coral Springs that had 1 home sold each.

For those of you selling a home in Coral Springs, you’ll see below that homes that were sold during January had sales this month decreasing from last months however and the concentration of home sales fell to the lower price points of $150,000 – $190,999 not showing any breakout points this month. Next month, perhaps!

The median price is $222,500 which is down from last month’s $250,000. The median price reflects 50% of homes sold below this price and 50% sold above this price.

Keep in mind, when pricing your home for sale, these price points can tell you where there are a lot of Buyers looking in a particular range and are willing to pay that price thereby increasing the chance of your home being sold.  The usually heavily populated range of $200,000 – $249,999 was continued this month and included a high selling concentration in the $150,000-$199,999 range. Where do you think your home’s value is? If you want to know, please contact me for a complimentary valuation of your home.

Price Range               Quantity

$149,999 or under        7

$150,000 -$199,999    14

$200,000 -$249,999    9

$250,000 -$299,999    12

$300,000 -$349,999    4

$350,000 -$399,999    3

$400,000 -$449,999    2

$450,000 -$499,999    1

$500,000 -$549,999    0

$550,000 -$599,999    0

$600,000 -$699,999    0

$700,000 -$799,999    0

$800,000 -$899,999    0

$900,000 -$999,999    1

$1,000,000 or over      0

Total                           53

Days on the Market

            0-30 Days     31-60 Days    61-90 Days   91-120 Days   120+ Days

No. of Listings  17                   9                    8                      5                  14

Breakdown % 32.08%        16.98%           15.09%           9.43%         26.42%

Avg % SP/LP* 97.14%       95.58%          96.86%           93.42%          94.66%

* This row indicates what percentage of the list price that the home sold for during January. Listing a home to sell at the right price to begin with can bring a quicker sale as shown in days 0 – 30. Do you have the luxury of time?

This month shows that homes must have been priced right as a large percentage sold within 0-30 days; a Sellers goal as almost 33% sold at 97.14% of their list price.

As your local Coral Springs REALTOR®, I’d be glad to help you determine the best price to help you sell your home here in Coral Springs. Or if you simply have questions about the selling process, please feel free to call me or email.

Pay attention to the Warning Lights when selling your South Florida home?

When a homeowner decides to sell their home here in Coral Springs and South Florida, they’re going to have a lot of expectations. I too, as a South Florida Coral Springs REALTOR®, will have expectations in getting the homeowners home sold.

To set the stage up front when selling a home, here’s what Sellers can expect to happen:

1. The Seller will have no showings
2. The Seller will have showings, but no offers
3. The Seller’s home sells fast and for top dollar.

All Sellers are going to expect #3, right?! So what are the Warning Lights when #3 doesn’t happen? Warning Lights can come from Buyer’s feedback after they’ve viewed the Seller’s home such as;

1. The Buyer thought the Seller’s home was too small means they found larger homes for the same price
2. The Buyer liked the Seller’s home but bought another means they found another home for a better value
3. The Buyer did not like the carpet in the home means the carpet is likely worn, wrong color and should consider replacing.
4. The Buyer thought the yard was too small and the street was just too busy means they found homes with larger yards on more peaceful streets
5. The Buyer thought the Seller’s home needed some work means the Seller should consider doing repairs or neutralizing home

These Warning lights can suggest that the Sellers home is not priced at the right price point to be the best value in their price range.

Well-priced properties generate immediate interest among Buyers and if the price is too high, that interest and excitement will never happen. Plus, if you later decide to reduce the price, the level of excitement is not the same as what a newly listed home will generate.

Warning Lights most often mean the price is not right. Let’s look a bit closer at some well known facts about finding a Buyer for a Seller’s home:

• Grab Buyer’s attention right away. Buyers and their Agents have seen all the Listing currently on the market and they’re just waiting for a new Listing to come to market to get them excited. The highest level of activity on a new listing will occur during the first 30 days. The best offers will come during this time period as any new interest will only come when a new Buyer starts looking to buy a home and will enter the market.
• Find Qualified Buyers. When the Seller’s home is not priced right they won’t be receiving qualified Buyers interest as they’ll be looking at homes that are within their price range; what they’re approved to buy. The Seller’s home is priced out of their range and they won’t even get a chance to notice the Sellers over priced home as they’re not looking in the higher price range. Make sense?
• Don’t sell the Competition’s homes. Overpricing of a Seller’s home only helps the competition by pointing out the good value of the competition’s homes. They’ll say, “Hey, Buyer look at our home price less than {your} home…our home is comparable for a much better value”
• Buyer’s will ask; How long has this home been on the market? They’ll wonder if something is wrong with the Seller’s home for having been on the market for so long even after later when the Seller has reduced the price. It is often too late, as the reputation of this Seller’s home is now cast in stone. The Seller also loses on having an upper hand in negotiating.

So what does it all mean in a nutshell? If you’re selling your home and you want to receive top dollar and fast, make sure you work together with your REALTOR® to get your home priced right from day one and who knows it may even spark a bidding war which can be common place in a home priced right to sell. Happy Selling!

Coral Springs single family home sales Increased this month by just under 30% to 79 homes sold; a very nice increase as compared to last months. Typical holiday slow downs sure didn’t play out this month with that kind of increase; playing a huge part to this increase in home sales is due to lingering Short Sales and Foreclosures that gained Lender approval and closed during December. Many Lenders will do their best to get this bad debt off their records at a years end hoping to start off better for the new year. Of these Coral Springs homes listed for sale below, almost 23% of them sold as a Short Sale, which is a slight reduction from last month sales of 27%. Whereas, almost 13% of the homes sold were REO/Bank owned which decreased from last month’s 23%

Almost 36% of homes sold in Coral Springs were distressed properties during December 2011; those homes that have been foreclosed on and those homes which are trying to avoid being foreclosed upon. As I’ve stated in many many prior market reports, this continues to show us that distressed property home sales are competing ever more with non-distressed Sellers if you’re selling home in Coral Springs which continues to reflect on home selling prices. Even though this month was reflective of Lenders wanting the bad Short Sale debt off their records, lets continue to hope that Lenders continue to see the benefit of approving Short Sales opposed to foreclosing on homeowners.  It is going to be some time before the South Florida market sees much of a change with distressed properties as they will continue to be a major force of selling competition here in the South Florida Real Estate market. It is likely that the foreclosure of homes will ramp back up as had been recently reported.

To compete with the distressed market, there are many things that a Coral Springs Seller can do to make their home stand out from the competition. Check out: Sellers can control.

The inventory of homes dropped this month showing 5.7 months of inventory; a decrease or increase in inventory tells us whether or not there are more homes available for Buyers, more homes for Buyers to select from will keep prices down for Sellers. This drop in inventory had a direct impact from homes being delayed in being listed for sale until after the holidays. This drop in inventory is a good thing for Sellers as it shows the Absorption Rate at 4.16 months. Sellers want a lower Absorption Rate as this shows that there are less homes available for Buyer. Buyers will always beg for a higher Absorption Rate as this means they have more to select from providing Buyers with  an increase in opportunities for reduced prices.

What neighborhoods in Coral Springs Florida had the most sales?

Coming in with 2 homes sold each were; Coquina Cove, Cypress Run, Glenwood, Hidden Hammocks, Kensington Suoth, Royal Land, The Clusters and Turtle Run.

Didn’t see your neighborhood listed here? Perhaps your home is in a neighborhood were 1 homes were sold. Feel free to call me if you want to know what sold in your neighborhood?

For those of you selling a home in Coral Springs, you’ll see below that homes that were sold during December had sales this month increasing from last months however, the concentration of home sales fell to the lower price points of $150,000 -  $190,999 yet expanded sales increased into higher price points – good! 

The median price is $250,000 UP from last month’s $220,000. The median price reflects 50% of homes sold below this price and 50% sold above this price.

Keep in mind, when pricing your home for sale, these price points can tell you where there are a lot of Buyers looking in a particular range and are willing to pay that price thereby increasing the chance of your home being sold. We continue to see a break out above the usually heavily populated range of $200,000 – $249,999.

Price Range                    Quantity

$149,999 or under             4

$150,000 -$199,999          18

$200,000 -$249,999          15

$250,000 -$299,999          17

$300,000 -$349,999          15

$350,000 -$399,999          7

$400,000 -$449,999          2

$450,000 -$499,999          0

$500,000 -$549,999          1

$550,000 -$599,999          0

$600,000 -$699,999          0

$700,000 -$799,999          0

$800,000 -$899,999          0

$900,000 -$999,999          0

$1,000,000 or over            1

TOTAL  HOMES SOLD         79

Number of Days that Homes were on the Market for Sale:

                                                 0-30 days    31-60 days   61-90 days    91-120 days    120+ days

No. of Listings                            26                15                   18                       3                    18

Breakdown %                           32.5%       18.75%            22.5                  3.75%          22.5%

*Ave % SP/LP                           97.6%      93.39%           94.77%             96.25%         97.58%

* This row indicates what percentage of the list price that the home sold for during November. Listing a home to sell at the right price to begin with can bring a quicker sale as shown in days 0 -60, as you see, will achieve a higher percentage of your list price whereas if you were willing to wait out 120+ days ending this month, you’ll achieve a bit closer to your list price. Do you have the luxury of time?

This month shows that homes must have been priced right as a large percentage sold within 0-30 days; a Sellers goal as almost 33% did at 97.6% of their list price.

As your local Coral Springs REALTOR®, I’d be glad to help you determine the best price to help you sell your home here in Coral Springs. Or if you simply have questions about the selling process, please feel free to call me or email.

Coral Springs single family home sales decreased this month again by 18% to 61 homes sold; a large decrease as compared to last months. You will typically see a decrease in people selling and buying homes during the last two months of the year as seemingly it’s all about the holidays and spending time with family and friends; homes can wait! Of these Coral Springs homes listed for sale below, almost 27% of them sold as a Short Sale, which is in line from last month sales of 27%. Whereas, almost 23% of the homes sold were sold as REO/Bank owned which increased up from last month’s 19%.

 Almost 50% of homes sold in Coral Springs were distressed properties during November 2011, an increase from last month; those homes that have been foreclosed on and those homes which are trying to avoid being foreclosed upon. As I’ve stated in many many prior market reports, this continues to show us that distressed property home sales are competing ever more with non-distressed Sellers selling their homes in Coral Springs which continues to reflect on home selling prices. As I reported last month and now again this month with a rise in Short Sale closings; perhaps Lenders are continuing to see the benefit of approving Short Sales opposed to foreclosing on homeowners.  It is going to be some time before the South Florida market sees much of a change with distressed properties as they will continue to be a major force of selling competition here in the South Florida Real Estate market. To compete with the distressed market, there are many things that a Coral Springs Seller can do to make their home stand out from the competition. Check out: Sellers can control.

The inventory of homes rose this month again showing 6.3 months of inventory; a decrease or increase in inventory tells us whether or not there are more homes available for Buyers, more homes for Buyers to select from will keep prices down for Sellers. However, due to the holidays during November and December, this can be reflective of this increase in inventory.

For those of you selling a home in Coral Springs, you’ll see below that homes that were sold during November had sales this month decreasing from last months. The concentration of home sales fell to the lower price points of $200,000 -  $249,999 and $149,999 or under. Not as many home sales broke out to the $300,000-$349,999 price point this month as they had in October where 22 homes were sold.

The median price is $220,000 down from last month’s $298,000. We’re hoping this is again reflective of the holiday months. 

Keep in mind, when pricing your home for sale, these price points can tell you where there are a lot of Buyers looking in a particular range and are willing to pay that price thereby increasing the chance of your home being sold. We continue to see a break out above the usually heavily populated range of $200,000 – $249,999.

Price Range          Quantity

$149,999 or under       7

$150,000 -$199,999    13

$200,000 -$249,999    19

$250,000 -$299,999    5

$300,000 -$349,999    8

$350,000 -$399,999    4

$400,000 -$449,999    1

$450,000 -$499,999    4

$500,000 -$549,999    0

$550,000 -$599,999    0

$600,000 -$699,999    0

$700,000 -$799,999    0

$800,000 -$899,999    0

$900,000 -$999,999    0

$1,000,000 or over      0

Total Homes Sold in Coral Springs – 61

Number of Days that Homes were on the Market for Sale:

                                                 0-30 days    31-60 days   61-90 days    91-120 days    120+ days

No. of Listings                            20                10                   8                       7                    16

Breakdown %                           32.79%       16.39%       13.11%            11.48%          26.23%

*Ave % SP/LP                           97.13%      94.10%       97.81%             94.82%         96.33%

* This row indicates what percentage of the list price that the home sold for during November. Listing a home to sell at the right price to begin with can bring a quicker sale as shown in days 0 -60, as you see, will achieve a higher percentage of your list price whereas if you were willing to wait out 120+ days ending this month, you’ll achieve a bit closer to your list price. Do you have the luxury of time?

This month shows that homes must have been priced right as a largest percentage sold within 0-60 days, almost 33% did.

As your local Coral Springs, I’d be glad to help you determine the best price to help you sell your home here in Coral Springs. Or if you simply have questions about the selling procee, please feel free to call me or email.

Lovely Sawgrass Estates home with easy access to Sawgrass Expressway. Entire home is tiled for ease of care. Upgraded Granite Kitchen with Stainless Steel appliances and wine cooler. Upgraded Bathrooms with Master having Tub & Shower. Large Master Walk-in Closet with built-ins. Indoor Laundry room. Screened in porch overlooks private fenced in corner lot with upgraded landscaping.Walk to lovely community pool. Dimensions are approximate. Listing Agent knows Short Sales for your purchase.

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