How we helped Bill sell his home by being proactive and informative



"I have nothing but good things to say about them, the whole team there is really great. After we got our initial appointment set up, they came out and talked us through their process. They really have a strong knowledge of the market and did what they said they would do. The house sold very quickly and it was very effective service!"

-Bill Scheer, Home Seller

We helped Steve with his short sale transaction by going above and beyond to get the deal moving forward



"We were in a short sale situation and we were next in line to put in an offer on the property. Everything worked out because Gia pushed it through so we had a really positive experience. We had issues with our bank and Gia stepped us and was always tying together loose ends."

-Steve Polowy, Home Seller

Know Your Fees When Selling Your Home: Title Insurance



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, Palm Beach Premier's favorite attorney, James Brown, addresses some of the fees you have to pay when you sell your home. Title insurance is necessary after selling your home and there is a contract that needs to be signed, the FAR/BAR. This contract stipulates who, between the buyer and seller, is responsible to pay for title insurance. There is no law in the books, but it's customary in Palm Beach County that the seller pays the title insurance.

The problem people run into is the seller is generating the title insurance and all its related searches, but the buyer is the party who is exposed to the transaction; they buyer is the one that typically wants to see the outcome of those searches. When the seller pays for title insurance, the buyer doesn't have the right to see it until after closing, or, in some cases, aren't allowed to see it at all.

The buyer can benefit dramatically from paying for title insurance. It can be structured so that it's no additional cost to the buyer and no additional burden for the seller. In this case, the seller would not be missing out on any of the money they'd get throughout the normal course of the sale. When the buyer pays for title insurance, they can look at search reports and municipal lead searches, which have things like open permit searches and code violations - essentially, all the things that may not have incurred in the sale that the seller knew about. Because it's technically the seller's contract, the buyer may not be made aware of certain important things that could be costly down the road.

That's why it's important to work with an attorney when title insurance is being discussed. If you are a buyer, you don't want to find out that your new home lacks certain permits the seller neglected to inform you about. What often happens is somebody buys a property and the seller buys the title insurance. A few months later, when the buyer tries to do something simple, like hang some gutters, they find out there is a permit that was never closed out from the prior owner. In this case, the buyer is responsible for closing out the permit. This might require hiring a contractor or an engineer - which could cost you anywhere from several hundred to several thousand dollars. James once saw a homeowner that had to tear down an entire addition because it was erected without a permit.

In order to avoid these kind of problems, give us a call. We'd be happy to put you in touch with James, and make sure you are protected during the title insurance process. 

How we helped Robert sell his home by always being responsive.



"They were very forthcoming and responsive when I asked questions. They always let me know what was going on and kept me up to date. They responded quickly to any doubts or questions I had during the whole process and I thought it was consistently excellent service!"

-Robert Schulte, Home Seller

The Advantages of Using an Attorney for a Short Sale



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

A short sale can be a complicated and frustrating process. We at Palm Beach Premier Real Estate want to take some of the pressure off, so we're here to explain why hiring an attorney will be beneficial to you.

An attorney offers multiple avenues of relief. Jim Brown, a favorite attorney of ours, says his goal is the elimination of liability for the borrower - and his team has access to multiple tools that can make that happen. If someone is receiving a commission or a negotiation fee for the sale of your home, an attorney will work to ensure you're not liable. A deficiency is the release of any liability after the sale; an attorney will ensure a lender doesn't come after you looking to collect balances on the loan.

Lawyers have tools that are not available to non-lawyers to eliminate that deficiency. They can also defend a foreclosure using defects in the foreclose as a litigation tool against the lender in the short sale.

A handful of things can complicate the short sale process. Most frequently, a bank will change servicing in the middle of negotiations. Without an attorney, the whole negotiation process will have to start from scratch if that happens. Attorneys have the contacts in place at different servicing entities, so they can get the file going again instead of having to start from scratch.

As banks and lenders become more solvent, they look to get more out of short sales. This makes them tougher to negotiate, and makes having a lawyer on your side that much more important. From an administrative perspective, short sales are becoming shorter in duration and relatively easy to tell what the outcomes will be; however, they're becoming more financially difficult for the seller and have become tougher for buyers, because banks want more money due to rising property values. A lawyer can protect you from some of the aggressive tactics at play during this process

In short, a lawyer will save you a lot of time and frustration during the short sale process, which has become increasingly hard to navigate. If you are in the position to have a short sale or are currently in the process and would like some help, give us a call or shoot us an email. We can put you in contact with Jim, whose experience with short sales will be a great help to you!

Debunking FHA Financing Myths



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Debunking FHA Financing Myths

Today we are joined once again by Matt Weaver of PMAC lending to talk about some common misconceptions people have about FHA loans. Matt is an expert in the field and we want to take this opportunity to have him debunk some of the rumors you may have heard about this type of financing. 

FHA financing is one of the most favorable kind of loan you can get. Credit score requirements aren't very high, and the debt to income ration allowances are greater. One myth about FHA financing is that properties fail inspections at a higher rate than other types of financing. This is simply not true. The only property challenges that FHA won't allow vs conventional financing are a missing A/C unit, water being turned off, or visible roofing issues. Anything else wrong with the property would also fail for conventional financing as well. 

Here are a couple frequent questions that Matt gets asked about FHA financing that he wanted to help clear up. 

Does the appraisal still attach to the house?
 Yes they do, but only if the new buyer is going for FHA financing. If a buyer couldn't purchase a home because they weren't qualified, that FHA appraisal is transferable to the next buyer, but only if they are also doing FHA financing. 

 Are there any hidden pitfalls for FHA financing?
 Absolutely not. It's a very liberal loan product. Conventional financing does have a few advantages, but in reality it is a lot more difficult to qualify for. Over 30% of home buyers with a lower down payment have debt ratios in excess of 45%, which FHA will allow but conventional financing will not. Currently for conventional loans with a 5% down payment, it tops out at 45%. FHA loans can top our as high as 56%.


If you are interested in financing or have any questions on the topic, give us a call. We will put you in contact with Matt to make sure you are in the best hands possible.

Special Financing Programs for Short Sales



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Special Financing Programs for Short Sales

 Welcome back to our blog. Today we talked with Matt Weaver from PMAC Lending about the short sale process from a financier's standpoint. The rules have changed a little bit and in some cases, buyers don't have to wait as long to purchase another home after their short sale.

The amount of wait time between a short sale and buying another home depends on the loan product. With FHA financing, it's wait period is 3 years. However, they have implemented a new product called the "Going Back to Work" program that allows you to qualify to purchase a new home after only 1 year. To qualify, you need to be able to prove that your income dipped by at least 20% during the onset of the financial crisis and that you are back up to your original income now. 

With conventional financing, things are a little different. The wait time is 4 years, but with a 20% down payment, you can qualify in just 2. Extenuating circumstances such as divorce, illness, or death can also trigger a 2 year wait period. 

If you have any questions, please feel free to give us a call. We would be more than happy to help.

What to Ask a Real Estate Agent Before Hiring Them to sell Your Home



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

What to Ask a Real Estate Agent Before Hiring Them to sell Your Home

 Thanks for joining us again. Welcome back to the Palm Beach Premier Real Estate video blog. This week's topic is 7 questions to ask when interviewing a real estate agent. These are 7 questions to ask when you are trying to decide the best agent for the job of selling your home for top dollar, which is ultimately what you want. 

Not all Realtors will have the skills and experience you're looking for, and what better way to identify which real estate agent to represent you than to ask some specific questions that can help you decide. Here are the questions:

1. Do you have a distinct, proven marketing plan to get a home sold?
 They should be sharing with you a delineated plan of action in writing and review it with you step-by-step.

2. Are you a full-time real estate agent or a part-time agent?
 Think of it this way: If you have surgery, would you want the surgeon who only operates 2-3 times a year or would you feel more comfortable with a physician who does this surgery every day of the week?

3. What kind of communication can I expect throughout the process?
 The key here is finding the agent that is going to give you weekly feedback so you can have peace of mind throughout the process.

4. Do you have people that I can call that you've done business with?
  All great agents should be able to provide you with references and testimonials that you can independently verify.

5. What types of online marketing will you do?
 Be sure to ask them what websites they will syndicate your listing to. Check to see if they have a strong online presence so you can be assured of strong online marketing. 90% of home buyers begin their search online before reaching out to work with an agent.

6. What steps will you take to secure a buyer for my home?
 For example, do they do what we do, which is prospecting every day. We talk to folks about buying and selling real estate all day. This is what you want and should expect your agent to do.

7. What differentiates you from other agents?
 You aren't looking for a passive agent who things they can simply take your listing and wait for it to sell. You are looking for an active agent who knows how to get homes sold and goes out every day looking for buyers and sellers.

So there you have it- 7 great questions to ask an agent when interviewing them to sell your home. In the meantime, if you are thinking of getting your home on the market, give us a call or e-mail. We look forward to speaking with you!

Know the Importance of Getting Pre-Approved




There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Know the Importance of Getting Pre-Approved

The importance of getting pre-approved before beginning your home search cannot be underestimated. Today, Matt Weaver of PMAC Lending is with us to explain the difference between pre-qualification and pre-approval, as well as how you can get a leg up on the competition before beginning your home search. Here are some of the highlights:

  • Pre-qualification is done verbally, over the phone. While credit information is pulled, the income documentation and asset information are typically not gathered.
  • Pre-approval is also done over the phone but there are some huge differences. The application is given over the phone, and all the essential materials are gathered, validated in their entirety, and you are pre-approved based on all the items gathered.

You are probably wondering: what exactly are the essential materials? The paperwork you need to prepare depends on your employment situation. Here are the basics: 

  • For a standard wage-earner: W-2 forms, tax returns, pay stubs, and bank statements are typically the documents needed.
  • Depending on how your employment and income breakdown works, we may need to contact your employer for further verification of employment.

The difference between Matt Weaver's PMAC Lending and typical lenders is huge. A typical lender gets verification of employment well into the loan process, which is not the right way to go about it because issues that could have been solved from the beginning serve only to prolong the process. PMAC Lending has the most extensive pre-approval process in the industry, so you can be sure you have a leg up on other home buyers and are ready to go when it's time to shop for a home.

As always, if you are interested in refinancing your home or need a pre-approval before beginning your home search, give us call. We'd love to assist you with the process!

How we helped Ann with her real estate needs by always being on top of everything.



I had wonderful results when I worked with Grant and Gia. After I got my condo, I immediately put my house up for sale and it was sold the next day. They took care of everything and their expertise was unbelievable! They handled everything wonderfully for me and they are the best Realtors I've ever had. 

How we helped Amanda sell her home for her asking price by working diligently



We were pretty impressed because he was able to sell my home relatively quickly and at my asking price. We had an initial buyer who dropped out and he worked very diligently to get my home back on the market. We had another buyer in 24 hours! He didn’t have to go to the lengths that he did but we really appreciated it

What are the closing costs involved in selling your home?



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

What are the closing costs involved in selling your home?

When you sell your home, costs involved in closing the sale are probably the last thing that comes to your mind. However, it is important to know all the different costs involved in closing your home beforehand, so you aren't surprised. One of the most valuable pieces of information that our sellers receive when we first meet with them is an estimated net sheet that answers the question "What are the closing costs involved in selling my home?"

In addition to the brokerage fee and/or real estate commissions, there are other costs in closing your home that you may not be aware of. First, the closing agent will likely have a "Title Agent Closing Fee" of some sort, probably around $350. There will also be a "Title Search Fee" and "Title Update Fee" which we estimate will run you an additional $235. These fees  sometimes get bundled together so don't panic if you see a higher number.

If the property you are selling is located in Palm Beach County, the seller will select the title company or closing agent. This also means that the seller will be responsible for paying the "Owner's Title Policy". In Florida, this fee is based on what is called the Lowest Promulgated Rate. These are the lowest title insurance policy costs a title company is allowed to charge. They are also set by the state and the rate for the owner's policy is based on the final sales price of the home.

Next on the estimated net sheet is the Documentary Stamp Tax on the deed. This fee is also charged by the state and is calculated by taking 0.7% of the sales price. This fee is the transfer fee of the deed by the seller to the buyer. Once the title company gets the transfer signed, there is also a recording fee for that deed.

Finally, the municipality where you live will also charge a fee when the title company does a lien search. This search is necessary in order to be sure that there are no liens or open permits on the property that would prevent the property from closing without it being cleared. 

In the meantime, if you are thinking of getting your home on the market, or you just want a second opinion or have questions about closing costs, please give us a call or e-mail. We look forward to speaking with you!

Boca Raton and Palm Beach County Real Estate Market Update



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Boca Raton and Palm Beach County Real Estate Market Update

Now that we have started the second quarter of 2014, let’s take a look at some of the monthly and quarterly trends that we’ve been experiencing, as well as the year-over-year changes. Most importantly, with approximately 5.8 months of inventory, the market is still favoring sellers. However, the market has softened somewhat as investors pull back on purchases and more sellers place their homes on the market.

Here are some highlights on what we’re seeing:

  • There are still numerous cash buyers in the marketplace
  • If your home is priced right, multiple offers are possible
  • If your home is overpriced, expect price reductions
  • Inventory has risen 16.5% over Q1 2013
  • Hedge funds are being far more selective, both in terms of property type and location, which is a positive for first time buyers and move-up buyers
  • Prices have risen over 6% versus March 2013, compared to last year where we saw more than 20% year-over-year increases
  • Spring season has started in earnest and there is plenty of activity
  • “Snowbird” season with residents from the Northeast and Canada, as well as overseas, has been strong
  • Short sales are decreasing
  • New construction activity is visible everywhere, with all the major builders playing catch-up
If you are considering selling your home:
  • Now is the time to get your home on the market before schools are out for the summer. Remember, families want to start their moving preparations early.
  • Focus on curb appeal and creating a great first impression by taking care of any home improvement projects.
  • Price your home where it will sell! If your home is priced correctly, you may receive multiple offers. Price it to sell, not price it to sit!
If you’re thinking about buying a home:
  • Become pre-approved upfront. This crucial step will put your best foot forward when making an offer.
  • The slowdown is actually quite healthy for the market and ensures that we won’t see another bubble. Keep in mind, well maintained homes, priced at fair market value, will sell within a few days or weeks.


Simply by taking a drive throughout Palm Beach County, you will notice the major national builders in action on new projects and developments. This is a strong indicator of renewed builder confidence and optimism.

Finally, I’d like to quickly mention the predictions for remainder of 2014 from the nation’s leading economists and some of the news articles. Bear in mind that although they are speaking in general terms, real estate is very much local in nature. With that being said, the consensus (if we can call it that) amongst economists is that real estate prices will flatten, or show modest gains, as inventories increase and as interest rates rise now that the Federal Reserve have begun to ease their stimulus efforts. 

If you are thinking of getting your home on the market, or you just want a second opinion and have questions, please give us a call here at 561.395.8418 or email us at Info@PBPrealestate.com. As always, we look forward to speaking with you!

Useful Resources for Remodeling Your Home



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Useful Resources for Remodeling Your Home

Now that springtime is here, I wanted to share some useful resources that can help you bring the most return on your next remodel. The National Association of Realtors, in conjunction with the National Builders Association, recently published a fascinating article, 2013-14 Cost vs. Value: Remodeling Pays Off Big Time and can be viewed below:

http://realtormag.realtor.org/home-and-design/cost-vs-value/article/2014/01/2013-14-cost-vs-value-remodeling-pays-big-time

The report takes a look at various home renovation projects and costs and how much of a return on investment they generate. Keep in mind that the numbers they quote are national numbers, so local market prices here in Palm Beach and Broward County will vary. The projects that are covered are some mid-range projects, like a window replacement, to upscale projects like a full kitchen remodel and also where your remodeling costs will go the furthest.

To help inspire your next remodel, I want to share a few websites with you:

  1. www.BobVila.com. This is one of my favorites and is really easy to navigate. It contains many great ideas and articles and there’s also an iPad App, Bob Vila’s Toolbox, which has some great remodeling videos. The App is $1.99 and can be found on iTunes.
  2. www.Houzz.com. I absolutely LOVE this website! If you are searching for some amazing inspirational ideas on home remodeling projects and you like technology – then you’ll totally enjoy navigating your way around this site! What’s great about this website is that you can see actual finished remodeling projects, where they purchased their products, who designed the remodel as well as find local professionals. They also have a free iPhone/iPad App! It’s a lot of fun; easy-to-navigate; colorful; informative and you’ll be overflowing with ideas!
  3. www.ThisOldHouse.com. There is also the option to subscribe to their magazine for some additional great remodeling tips and ideas. The website, however, has thousands of remodeling projects, tons of ideas, “how-to’s”, as well as the latest advice on projects and products.


So, if you’re considering doing some remodeling of your home or you just want to maximize the price you’ll get when selling your home, these resources will be invaluable!

Remember, your referrals are so important to us – they are the lifeblood of the business here at Palm Beach Premier Real Estate! Thanks and have a great day.

To Accept or Not to Accept: Is the First Offer Your Best Offer?



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I wanted to speak with you about why your first offer typically the best. If your home is newly listed, chances are high that you will receive an offer very quickly. It could be on the first day, the first week or the first month; statistics show us that your first offer is typically going to be your best offer or even your best buyer.

Typically when a buyer starts their search for a home, they begin online. This could be by having properties emailed to them by local agents or physically visiting open houses. Wherever the start may be, the buyer is educating themselves. 90% of buyers begin their home search online before even contacting a realtor! Today’s consumer has become incredibly tech savvy, discerning and knowledgeable because of information technology.

The average buyer will view dozens of homes before they physically go and view them in person. They are essentially narrowing their search down online or from the comfort of their own homes! This is why your first offer is more likely to come from an educated buyer.

Keep in mind that when your home comes on to the market for sale, buyers that are engaged in the buying process will typically get an automated email from their agent the moment your home hits the market; if its fits with the criteria they specifically requested, they will be notified as new properties come on to the market. They will receive that listing right away and if you’re home shows well online, this will excite them!

Because the buyer has already been involved in the home search process and pre-approved, they are probably waiting for the perfect home to hit the market! This is especially important as we have many areas with tight inventories. The last thing that you want is to list your home on the market and reject the first buyer offer that comes along in the hopes of holding out for higher offers.

If you’ve worked alongside your listing agent and agreed on the recommended list price, the initial buyer will most likely be able to offer you a price on your home that creates that all important meeting of the minds between you and the buyer. This is likely to be the buyer that has studied the market, informed themselves, viewed many homes and has been waiting for a correctly priced home like yours. Again, this is why your first buyer is likely to be your best buyer.

If you are thinking of getting your home on the market or you just want a second opinion and have questions, please give us a call. Thanks and have a great day!

Attention Sellers: Be Ahead of Your Competition This Spring!



There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I wanted to speak with you about how you determine what your competition is when listing your home. First of all, keep in mind that when pricing your home for sale, we want to price it in a way that will make it attractive to buyers. Buyers aren’t just looking at your home, they are going to shop around and compare your home with others!

What are the Buyers Looking At 

As buyers look at houses, they are comparing features such as granite countertops, new appliances, fresh paint, upgrades/improvements, condition, location and price. Buyers also compare the price-per-square foot, curb appeal and the year the home was built. Savvy buyers will be comparing your home to your competition as they search for their ideal home. You want to make your home stand out as best you can!

Keep in mind that you get one chance to make a great first impression, so focus on your curb appeal. Tis means landscaping, driveway, pressure washing the roof, cleaning out the gutters and perhaps even consider a fresh coat of exterior paint. I’ve always felt that if you focus on the little things, the big things have a tendency to take care of themselves!

Another area where you will find yourself going up against your competition are some of the benefits you home has to offer above your competition. This includes the back yard, whether you have a pool or not (and if it’s screened in) and of course, the view. Buyers consider school districts, proximity to shopping, places of worship, walkability and major transportation routes.

Buyers also pay close attention to mechanical updates. This means when was the air conditioning system was replaced, is there a central HVAC, the age of the water heater and roof, and the age of the appliances. All of these areas, whether its mechanical, curb appeal, square footage, updates and improvements, all have an impact on your property pricing as your home competes with others out there in the marketplace.

Most importantly, you want to price your home where it will sell and give yourself the best opportunity to negotiate multiple offers. Many sellers you will be competing with in the marketplace will try and leave room to negotiate by listing their property too high. The last thing you want is to list your property on the market and not sell! Review the competing properties and arrive at a list price that gives you the best possible chance of receiving numerous offers.

If you have any questions or want some more ideas about how to prepare your home for sale and receive top dollar, please call us at (561)395-8418 or email us at Info@PBPrealestate.com. As always, we look forward to speaking with you. Thank you for watching and see you next time!

Market Value vs. Appraised Value: How It Can Impact the Sale of Your Home


There are many great Boca Raton and Palm Beach County homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I’d like to discuss the difference between Market value and Appraised value. The topic is particularly relevant right now as the lending guidelines are constantly changing. Market Value, according to the Appraisal Foundation, is “The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.”

Now of course, that’s quite technical, so let’s simplify this definition a little. Market Value assumes that the buyer and seller are both motivated, both parties are well informed and advised and acting in their own best interest. Market Value also assumes a reasonable marketing time for the property on the open market and for a normal (non-distressed) sale.

Appraised Value on the other hand, is the only valuation number a lender can use to determine the value of a piece of real property submitted by a licensed appraiser. Keep in mind that “appraising a parcel of real property” is an art, not a science and is most often used for financing purposes.

Appraised value considers what similar properties have sold for in the same neighborhood in the last 90-180 days. Appraisers will also consider the gross living area (+/- 15%) and consider going outside the development if no other suitable comparables exist. They will also take into account amenities, views and updates to the property.

The problem with appraised value versus market value is particularly relevant when a market is appreciating. Sometimes the values 90-180 days ago may not be representative of what buyers are willing to pay today or what sellers think that they can get today. This value is called Market Value or what a buyer is willing to pay for the property. Interestingly, when market value and appraised value differ on a real estate transaction with financing involved, the lender will only finance based on appraised value.

However, the buyer may have to consider coming to the table with additional funds to meet the market value demanded by the seller. Essentially, the buyer and seller will need to overcome this disparity if it exists in order to successfully close the transaction. Hopefully this has shed some light for you on the difference between Market Value and Appraised Value. Thanks again for tuning in – we’ll see you next time.

4 Things to Look for When Hiring a Listing Agent!



There are many great Palm Beach area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (561) 395-8418 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hello everyone and thank you for watching! This is Gia Freer with Palm Beach Premier Real Estate. Today I’d like to tackle one of the most frequently asked questions I often hear from potential sellers, “What should you look for when hiring a listing agent?” First of all, you should be looking for an experienced salesperson; someone that can demonstrate their track record for getting clients the most amount of money in the shortest amount of time. This is an aggressive agent that specializes in getting homes sold but without being abrasive.

Second, you should be looking for someone that has a strong marketing plan of action. You are not looking for someone that will simply out it on the Multiple Listing Service (MLS) and wait for the phone to ring; your focus should be to identify a Real Estate salesperson that is an active listing agent with numerous sellers, and buyers, that call on their signs.

In addition, you can line up 100 agents and most will come up with a similar list price for a home based on a review of the comparables. However, what separates everyone is what the agent will do to get the home sold quickly and for the most amount of money. You need to ask what the agent’s marketing plan of action is and there you will find the difference.

Third, try and identify a proactive agent, not a reactive or passive agent. For example, an active or proactive agent is a realtor that picks up the telephone and prospects for new business every day. A passive or reactive agent is one who simply waits for the phone to ring. I think we know which agent will get your home sold.

Finally, you should be looking for someone that has knowledge of the local market and surrounding area The agent doesn’t necessarily need to live in the area, however, they ideally have sold homes in the area and have access to the MLS (Multiple Listing Service) and some local knowledge. Which company an agent works for is an understandable concern, however, most people realize that a company doesn’t sell a home; it’s the individual agents’ activities that gets a home sold.

If you are considering putting your home on the market and are looking for a powerful listing agent, give us a call here at Palm Beach Premier Real Estate and we’d be delighted to help you. Thanks and have a great day!