Skyfor’s most recent report addresses the strong seller markets which exists in many large metropolitan areas of the United States this Spring, including popular cities such as Ft. Lauderdale and Boca Raton.
(Fort Lauderdale, FL) A real estate consumer education and referrals company out of Colorado received a request this week from a pre-qualified buyer hoping to purchase in the Fort Lauderdale, Florida area for around $250,000. However, the exclusive buyer’s agent interviewed at the For Buyers Only real estate company out of Lauderhill, a suburb of Fort Lauderdale, stated that price range would be difficult. Nour Nouri stated that listing agents are currently trying to get 10% over the market value of homes due to the low inventory in this price range.
Skyfor helps educate home buyers about the real estate markets in Florida, Colorado and other states by interviewing its network of agents about current market conditions and strategies for buyers. For a list of qualified buyers agents who serve Fort Lauderdale, Florida, and a summary of the interview, see the Florida Buyers Agent network of members at http://buyeragentsearch.com/associations-and-real-estate-agents/Florida-buyers-agents-network/
Nouri explained that it is not a good market for investors due to the high prices It is a difficult one for the average buyer who wants a home under $300,000. A nice three-bedroom, 2-bath home is going to be in the $350,000 range and up. This buyer’s agent says that motivated buyers are paying over the appraised price. This means that the buyers must come to the table with enough cash to cover the difference between the appraised price and the sales price.
The broker/owner of this Ft. Lauderdale buyer agency office says their approach is to be honest and tell the buyers when they consider properties to be over-priced. Agent Nouri states that “If you love the house, then you will have to decide on whether to take the risk of owning a property that is well over market value.” However, in Ft. Lauderdale, as in many other metropolitan areas of the United States, many buyers are banking on the trend of increasing values of as much as 1% per month.
While real estate professionals agree that there are high prices in many cities, the question of whether it is a real estate bubble--which implies it will burst any day--or an opportunity to purchase property that will continue to appreciate at a steady rate, is anyone’s guess.
Broward County has over 30,000 agents, so this firm has special strategies to get their buyers the winning bid. The agency has been helping buyers since 1978, so has learned a few things about what works and what doesn’t.
In the Buyer Agent Search website market reports, Skyfor seeks to inform consumers about top strategies used by buyer agents to win a bid in a multiple-offer situation. An agent in the Ft. Lauderdale office reports that his top strategy is “getting the seller comfortable with the buyer”. Many sellers prefer to sell their homes to someone they like and sometimes that will even trump a higher price offered by another buyer whom they don’t know or don’t like. This company has found good results when their buyers write personal letters to the sellers. They are encouraged to include statements about how much they appreciate the home and would enjoy living there.
Other agents in Skyfor’s “SmartHomeSearch” network of brokers in the Denver Colorado market reiterate the problem of low inventory, stating that “there is virtually no offer below $300,000 that is without competition on a move-in ready home”. The brokers note that there are some properties on the market in the $200-300,000 range, but that they inevitably require major repairs, thus driving the true cost well above $300,000.
Skyfor, who also manages the Colorado Exclusive Buyer Agents Association at http://homebuyerscolorado.org, notes that the Denver Colorado market is experiencing growth similar to Fort Lauderdale. Denver median prices are over $460,00. Major metropolitan growth cities such as these are seeing buyers extend their home search to smaller surrounding towns that might require a long commute to work.
Those wishing to consider a real estate home purchase may get a free consultation, market analysis and list of buyer’s agents by phoning the Association headquarters or going to the inquiry page located at https://buyeragentsearch.com/find-a-buyers-agent/.
