Welcome to Duke’s New Website & Blog

Posted by Duke Rountree on

Subscribe Today & Receive Your “FREE Home Market Analysis”

WOW, what a process to revamp and create a new website. PC House Productions handled the design and creation of my new logo and website, but the time it takes to create new content, input all of my properties and add all of the features is very time consuming. Oh well, enough about my trails and tribulations with the new site.

Why did I create a new website and, more importantly, start blogging? Simple, to better inform and connect with my customers, friends and family. It is my goal too provide a fun and informative place to find information about anything and everything the Ocala/Marion County area has to offer. I know, I know, this seems like a lofty goal, but I can only accomplish it with “your” help. Please subscribe to my blog, today, and tell me what information you would like reported. How about local market updates, subdivision information, community events, building and zoning issues, or maybe you want to know about local events and happenings? Sign up today and receive a “FREE Market Analysis” on your home.

How to Use Comparable Sales to Price Your Home

Posted by Duke Rountree on

  • What are comparable sales?
  • Where can you find comparable sales?
  • What do the sales mean and how does it affect the value of my home?

    • These are all great questions and the answers can vary depending on your location. Comparable sales are sold homes similar/comparable to yours. The trick is to find the closest match; including, but not limited too, location (same subdivision would be ideal or within certain radius of miles), home type (single family residential, waterfront, farm, acreage, etc.), upgrades(pool, oversized garage/workshop), sale date (in todays current market we only look at the previous 3 months).

    Comparable sales can be found much easier with the accessibility of the Internet. But, you do need to know where to go. Marion County Property Appraisers has tons of great information @ http://www.pa.marion.fl.us/ including property details, assessed values, legal descriptions, links to court filed document, and so much more right at your fingertips. The coolest part is the spatial mapping data where you can check school & flood zones, utilities, elected officials, previous sales, Sheriff locations and on and on and on. OK WAIT! I got off track, the comparable sales for an area can be found with the above mentioned mapping, and then researching each sale and property carefully. After the data is collected I create a Comparable Market Analysis making adjustments for the differences in each comparable property. You will be left with an Adjusted Recommended Sales Price.

    OR

    visit “zillow.com” for what they call their “Zestimate”. Beware, the “Zestimate” should only be used for general information purposes and other tools should be used in determining your ideal listing price.  The website has some great information about many neighborhood features including schools, sales trends, homes for sale, etc. www.zillow.com

    Pricing of your home should not be taken lightly! It may be best for a seller to view comparable properties for sale in the area before deciding on list price. When selling your home there are 2 choices, #1 is living in Fantasy Land and #2  in Reality land. The fantasy is you can ask anything you want for your home; the reality is, what is a ready, willing, and able buyer willing to pay for your home? More importantly, if an appraisal or bank financing is needed will the comparable homes in the area support your contract price. I always say, “THE PROOF IS IN THE NUMBERS!”

    Comparable Market Analysis are always “FREE of Charge” with me. Contact me today for more details.

    Tips for Buying Foreclosure / REO Properties

    Posted by Duke Rountree on

    Tips for Buying Foreclosure / REO Properties

    BE INFORMED!!!    BE PREPARED!!!    BE READY!!!

    Being informed about the process. Finding a REALTOR with experience in working with buyers on these type of properties can provide a wealth of information. Many REO properties will bring multiple offers in a short period of time. The benefit of a quick market analysis and consultation during negotiations can make all of the difference in a successful  transaction.

    Being prepared is probably the simplest. If you are paying cash you will need a recent letter form your bank stating “proof of funds” and if you are financing the property you will need a pre-qualification letter. The bank/ asset manager will not accept an offer without one of these items. Be ready to look frequently at great priced/location properties. Maybe reading contract and necessary paperwork prior to signing.

    Be ready to act when the time comes. Inexpensive Foreclosure/REO properties have created a huge demand with first time home buyers and investors driving the market. Most desirable properties are only on the market a few days and receive multiple offers during that period. A buyer can expect to pay more than the current list price in many foreclosure and REO sales.

    Remember with Foreclosure / REO properties finding the right property is only maybe 25% of the battle. The other 75% is Offer, Negotiating, Final Signatures, Loan Approval, Inspections, Surveys, Title work and several other task to make it work. HAPPY HOUSE HUNTING!