NextHome SunRaye Integrates 3D Video Technology to Showcase Properties Virtually

NextHome SunRaye has added Matterport 3D technology to its marketing arsenal in recent months so that we can continue to utilize the latest, cutting edge and effective technology to market homes for sale. This technology propels real estate marketing to another level, providing an all-in-one solution that serves buyers, sellers, as well as real estate professionals.

This technology enables us to offer distinctive 3D tours that provide realistic details and true experience of a home without setting foot inside the property. Buyers will experience an immersive, self-directed and comprehensive virtual tour before they decide to make an appointment to view the home in person. This saves everyone involved a lot of time and effort. The top quality result that is produced is extraordinary when considering the low cost of the technology itself.

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Check out the 3D virtual tours below on two of our listed properties that are currently for sale. These are great examples of Matterport’s 3D tech capabilities.

6377 15th St. S. in St. Petersburg is currently listed at $215,000. This Pinellas Point home is spacious and sits on an oversized .25 acre lot. Check out the versatile floor plan with 3 large bedrooms, 2 bathrooms, living room, dinette, family room, and two-car garage. The pie shaped backyard is enormous, and it features an open patio with plenty of room for a pool and boat parking. This property is located very close to downtown, Tierra Verde, and beautiful Ft. DeSoto Beach National Park.

7842 Causeway Blvd. N. in St. Petersburg is currently listed at $269,500. This home is ideally located only just over a mile from the Treasure Island Gulf beaches. Take a look inside this 2 bedroom, 2 bath, split floor-plan with large living room that opens to a Florida room. Check out the updated windows, wood cabinets in the kitchen, and the lovely outdoor patio and resort style pool. The backyard is fenced for security and privacy.

If you are in the market to purchase a home, visit our website to peruse our other properties currently listed for sale, and call our St. Petersburg office at (727) 343 – 9600 so we can make arrangements to show you the latest homes and best deals to hit the market in person. If you are thinking about selling your home, contact NextHome SunRaye so that we may discuss the other innovative tools we utilize in addition to Matterport 3D technology to market your home!

JUST SOLD SPOTLIGHT: 1478 Lake Side Court, Dunedin, FL 34698

This versatile ranch located in the heart of Dunedin sold after only 17 days on market for $170,000! This 2 bed, 2 bath home is situated on a corner lot of a cul-de-sac and features a large yard. It also has a spacious floor plan allowing it to easily be converted into a 3 bedroom. With so much potential, it is not surprising it sold so quickly!

To view more of our recently sold properties, click here.

If you’ve been considering putting your home on the market, the timing is currently perfect while inventory is low. Contact NextHome SunRaye Realty at (727) 343 – 8600 to discuss your plans and your home’s value. As leaders in the Tampa Bay real estate market, we want to be your partner through the selling process. We are confident that our experience and market knowledge can be of great value to you as you work to maximize your investment.

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May Sales and Why Days on Market (DOM) Matters

May was a stellar month for closings at NextHome SunRaye Realty! Not only do we take pride in working to ensure a streamlined transaction process whether our clients are buying or selling, but it’s our specialty to assist our Tampa Bay neighbors in selling their homes quickly while maximizing their investment. Here are some of our May sales that sold in record time on market:

 

 

Generally, it’s wise to consider every offer to purchase your home and avoid rushing into a contract with the first one that appears to check all the boxes. In the seller’s market that we find ourselves in today, it’s wise to give all potential buyers a chance to put their best foot forward when competing for the sales contract on your home. A multiple offer situation is what every seller wishes for. This is very possible when a home is competitively priced. However, the amount of days your home spends on market matters as well, and it’s the reason why you want to partner with an experienced and knowledgeable real estate professional when marketing your home for sale. Here’s why the days on market statistic is important to home sellers, home buyers, and both the listing and buyer’s agents:

  • The days on market (DOM) statistic is an indicator of local market activity. It reflects the length of time on the market before a home sells. It can vary from zip code to zip code, neighborhood to neighborhood, and from one price range to another. This information can assist a home owner in planning their sale and determining how much time they will need to find a buyer and close on the sale.
  • The DOM statistic is a good reference for gauging the state of the real estate market. When days on market increase beyond what is typical, it is a good sign that it is a buyer’s market. This is because when homes stay on the market longer, there is more inventory for a buyer to choose from. During times like these, it is wise for the home owner who needs a faster sale to price his home more aggressively. When homes sell faster and there is a shortage of inventory, home owners may find more flexibility in their original pricing.
  • The truth is, the longer a home sits on the market, the harder it becomes to sell. When a home remains on the market for longer than it should when considering the market activity taking place around it, it becomes what is known as a “stale listing”. Stale listings can set off a couple of red flags for buyers, and it generally can mean one of a couple of different things. A stale listing may indicate that the home is not competitively priced. If the original list price is too high and scares interested buyers away, a price reduction will usually follow to generate more interest. While this may work, it may also backfire and suggest desperation on the seller’s part, giving potential buyers a more confident negotiating stance. Other times, a stale listing may indicate to potential buyers that there is something structurally wrong with the home or that it needs significant repairs that are preventing it from selling. Neither of these impressions will help the home owner sell his home, which is why it’s very important to price the home competitively while reflecting its value accurately from the start.

When you partner with NextHome SunRaye Realty and list your home for sale, your agent will review a market analysis with you that provides data on the all of the current active listings in your neighborhood, the listings that are under contract, closed sales, and expired listings. This analysis will offer you a complete picture of the local market activity currently taking place in your area and around your home. Your agent will tell you about our successful marketing programs that can assist you in selling your home quickly and at a competitive price. NextHome SunRaye agents are  continuously monitoring market statistics and staying on top of neighborhood trends in order to best serve our clients. Call NextHome SunRaye today to discuss a marketing strategy for selling your home and making it stand out above the rest: (727) 343-8600.

Selling Your Home: Curtail Any Emotions that May Hinder a Good Deal

 

You invested a lot of blood, sweat and tears (and money!) into your home. You raised your kids here. You celebrated many birthdays and Thanksgivings here. When it comes time to sell your home, you may find it difficult not to become insulted by a low-ball offer that gets presented. Here is some advice for how to handle offers that fall significantly below your asking price.

 

 

  1. Is it really a low-ball offer, or is it just less than what you wanted? Depending on your local real estate market and the inventory of homes for sale, many real estate professionals consider a low-ball offer to be between 20% to 25% below list. Even then, the price range your home is in makes a difference as well. While an offer of $75,000 on a $100,000 home would likely be rejected, a $1.5 million offer on a $2 million home would more than likely be considered for negotiation.
  2. Should you reject a low-ball bid right out of the gate? While it may be tough trying to set aside hurt feelings, remember, someone is showing interest in purchasing your home, and that’s a good thing. In this mindset, you should counter every offer – unless it’s just totally ridiculous. What’s constitutes a “ridiculous” offer? Anything significantly less than 25% below your list price should be a red flag. If you find yourself in this position, rely on your realtor’s expertise to help determine an appropriate response. Usually, a good rule of thumb is to counter a low offer to send the message that you are willing to negotiate and work with the right buyer. After all, it’s not where buyers begin, but there they end up. However, if you allow your emotions to affect your judgement, you may never get to that final number.
  3. Is your home priced right? If you receive one or more low-ball offers, you may have to consider that your home is priced too high for the market it’s currently in. Before you set a list price, your agent will provide you with comps, which are comparable listings of properties for sale that are similar to yours in the area. Your agent will also give his or her expert recommendation on where your home should be priced at. It’s wise to choose a price that reflects the comps so that you can be competitive and get reasonable offers. If you start out too high and have to reduce your price later, you are just delaying the sale of your home and spending more days on market. You don’t want your home to spend too may days on market and risk it becoming a “stale listing”. In today’s Tampa Bay area real estate market, a home for sale that is on the market for over 65 days is going to lose buyer interest and will most likely be considered overpriced.
  4. What factors are important to you in selling your home aside from the price? Do you need to sell quickly because you are purchasing another home? Are you looking for an all-cash deal? There are certain incentives that can sweeten a deal that may make looking at a lower offer worth your time. They may include:
    1. A preferred closing date
    2. A solid mortgage pre-approval letter fro the buyer (not just a pre-qualification)
    3. A larger down payment
    4. Fewer inspection contingencies
  5. Don’t worry about looking desperate. Perception doesn’t matter when you entertain a low-ball offer. What matters most is the end result. Don’t get caught up in feeling offended when faced with an “insulting” offer to the point where you cut off communication with the buyers or their agent. This reaction won’t help you sell your house, and it’s worth it to get feedback from every offer, regardless of how things turn out.

Lastly, choose an experienced real estate professional who knows the market. NextHome SunRaye real estate professionals live and work in the Tampa Bay area and stay current on local market trends. Our 30+ years of real estate industry knowledge and experience drives our success, as it has helped us build valuable relationships with clients, as well as a sizable amount of referral business. If you are looking to sell your home in Tampa Bay, give our office a call at (727) 343-8600 to discuss your home’s value and how we can help you sell in this market. When you enlist NextHome SunRaye to sell your home, we ensure a swift and smooth transaction as well as a stress free experience.

 

Image via Flickr Creative Commons by Roger W

Image via Flickr by Roger W

 

 

Make Your Home FHA Loan Friendly and Appeal to More Home Buyers

11859 Dunster Lane

 

With 30 percent of today’s homebuyers using FHA mortgage loans, it is important to capture this buyer pool when marketing your home for sale. First time homebuyers gravitate toward using FHA loans especially because it allows them to make a down payment of only 3.5% of the purchase price. Here are some other FHA facts to know that will help you get your home FHA ready:

  1. It is important to learn the FHA lending limits in your area. In Pinellas and Hillsborough counties, FHA will insure a mortgage of up to $314,827 on a single family home. For a duplex, FHA will insure a mortgage of up to $403,125.
  2. Buyers will want a home inspection, regardless of the type of mortgage loan they plan on getting. As the seller, you will need to provide an FHA buyer with a form that details what a home inspection can reveal, and how home inspections are different from appraisals.
  3. As a seller, you need to be prepared to rectify any problems that appear on the home inspection, otherwise, FHA will not give approval until serious defects are repaired, such as a roof leak, mold, structural damage, or any interior or exterior paint that could contain lead and predates 1978.
  4. Although the buyer can choose his own appraiser to assess your home, FHA only allows inspections by appraisers that are FHA approved. As a seller, it is recommended that you assist the buyer’s lender’s appraiser by providing easy access to crawl spaces and other areas, which the appraiser will most likely have to photograph.
  5. For all FHA loans, the seller and other interested parties can contribute up to 6% of the sales price or toward closing costs, prepaid expenses, discount points, and other financing concessions.
  6. If you are selling a condo, you will need to find out if your condo is FHA approved for mortgages. To learn this information, visit HUD.gov. You will get the best results by searching by zip code. There are rules that apply in order for condo associations to qualify for FHA approval. These rules include restrictions on the percentage of unit owners that are late on association fees. FHA usually won’t insure loans in condo associations where that percentage exceeds 15%. Other factors like insurances, cash reserves, and how many units are owner-occupied play a part in whether a condo association becomes FHA approved. If your condo does not meet all of the requirements, there are some lenders who will provide FHA waivers. You can discuss this with your agent who can help you identify some of those lenders if this becomes necessary.

When you are ready to sell your home, give a NextHome SunRaye agent a call. Our team is eager to help you get your home FHA ready and market it to all qualified buyers. Partnering with a NextHome SunRaye Realty expert will ensure the prompt sale of your home and a maximum return on your investment.