When looking for a new home, many people are tempted to go it alone.  This usually ends up being quite a daunting task, even for the most tenacious and focused homebuyer.  Here are 10 ways that having a Realtor on your side can help:

1. Realtors research desirable neighborhoods and can relay important information to homebuyers such as home values in the area, amount of taxes paid and zoning restrictions.
2. Realtors can help find financing, prequalify you for a loan and can refer you to home inspection companies.
3. With knowledge about the way other homes in the area are selling, a Realtor can help determine a fair buying price.
4. A Realtor can suggest changes to make to the home to make you more comfortable and to make it a better investment, should you need to sell it in the near future.
5. Realtors can handle many of the tedious tasks – such as paperwork – for you, saving you time and energy.
6. A Realtor usually goes to the closing with you, giving you peace of mind that if an issue should come up, it will be taken care of effectively.
7. Realtors must abide by a code of ethics, treating everyone involved in the transaction fairly and equally.
8. A Realtor has the tools and ability to find the best suited home for you in the most affordable price range.
9. Simply put, a Realtor has the professional experience to put in the time and effort and do the job right.
10. A Realtor’s services are usually free to a buyer – commission is normally paid by the seller.

According to a report by the National Association of Realtors, Canadians made up the largest percentage of foreign buyers of United States homes from May 2007 to May 2008 at 24%. One third of those buyers purchase homes in Florida.  The number of Canadian buyers of Florida homes has more than doubled since the previous year, going from 3,500 to 7,200. 

According to a report by the Florida Association of Realtors, newly lowered prices of existing single family homes is the main reason for the Treasure Coast’s 43% rise in sales, the largest annual percentage gain in the state.

After months of sales dropping in the double digits, Palm Beach County’s sales dropped only 3% last month from last year’s levels, another positive sign that the market is stabilizing.

Sources at the Realtors Association of the Palm Beaches agree, saying that buyers have been waiting to see how much prices will drop.  And they did -- median prices of existing homes in Palm Beach County fell 12% to $334,300 since June 2007, and in Martin and St. Lucie Counties, median prices fell 32% to $160,800.

Also according to the report, existing condominium sale prices fell 24% since June 2007 to a median price of $153,200, making them more affordable to first-time buyers. Martin and St. Lucie counties’ media price fell to $165,000 – a drop of 28%.

This reflects two things, according to analysts.  One – sellers are becoming more realistic about pricing their properties, and two – the amount of foreclosures in the upcoming months will drive down prices in the next 24 months.

Across the state, existing home sales fell 5% compared to last year’s figures.  Nationally, sales fell by 15%.  These low sales levels also mean lower prices – the median price dropped by 7% compared to figures from last year. 

Economists warn that there is still a way to go, but are hopeful that this is at least the beginning of the end.

A 62,000 square-foot oceanfront mansion owned by Donald Trump has reportedly sold for its full asking price of $100 million to an unnamed foreign buyer.

Trump bought the 6-acre property in 2004 for 41.35 million and spent $25 million renovating it to include nine bedrooms, media room, wine room, art gallery, conservatory, ballroom, two guest houses and a 48-car garage.

Trump predicted he would sell the property at that exact price three years ago, before it ever went on sale.  After toying with the idea of converting the property into a luxury hotel, he dropped his original asking price of $125 million recently, after reportedly turning down offers ranging between $85 and $90 million.

According to reports, the unnamed buyer is contemplating tearing down the current structures and perhaps dividing the land into multiple parcels.

Since 1917, the property has been bought, sold, razed and remodeled several times over by prominent businessmen, including a family member of the founder of Dun & Bradstreet, the onetime president of Standard Oil and chief executive of Limited Brands, Inc., among others.

The following article appeared in the February 1 issue of the Palm Beach Daily News.

Friday, February 1, 2008

Many home buyers in Palm Beach today are trying to sense where the bottom of the market is before they commit to a purchase.  Even so, they add, a well-maintained home that appears fresh and in good condition can certainly attract buyers.

"Palm Beach has always been a stable real estate environment, says Gordon.  "Many properties will experience a downward trend, because of overstated values or condition.  But overall, Palm each real estate should be a secure real estate market and provide a good long-term investment."

One key to selling a house is to remove all the negatives a buyer may find.  That means taking a proactive approach to both the interior and exterior maintenance of your property, Ray says.  "Your investment upfront to shape up your home should reduce the days on market."

Gordon offers a few suggestions to accomplish that goal.  boost curb appeal with fresh paint, a new front door, new pavers or landscape lighting.  Maintain and update your landscaping with fresh beds of flowers and new mulch.  Pressure-clean the roof, driveway and walkways.

Inside, remove clutter from shelves and cabinets, closets, the garage and major rooms to give the appearance of a clean, organized property.  Clean the windows.  Fresh paint, new carpet, clean tile grout or refinished hard surface flooring can make a noticeable impact.  Updated bathrooms, kitchen appliances, countertops and cabinets always add to the "wow factor."

When establishing a value of your property, trust your Realtor, adds Gordon.  "Understanding Palm Beach properties doesn't happen overnight," he says.  "Our company has been established in Palm Beach since 1986.  We have the experience and know-how, and we can help you determine the best approach to marketing and selling your property as well as establish a realistic market price.

 Visit Scott Gordon Realty at 255 S. Ocean Blvd, Manalapan; call 561-533-5888.  Or visit the web sites www.scottgordonrealty.com and www.exclusiveestates.info.