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Expert Tips for Navigating the Real Estate Market

My mission at Treu Group Real Estate is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, I can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Don't Be Fooled - Not All Approvals Are Created Equal Mixdown 1

Pre-approval is an important part of any real estate transaction, whether you’re buying or selling. For both buyers and sellers, it’s important to understand the lending side of the deal, since this is what really determines whether a deal can make it through the closing table. If a lender hasn’t completed an accurate pre-approval process, the deal will fall through 90% of the time. It’s important to have a good understanding of the difference between a pre-approval and a pre-qualification. A lot of the issues that can cause a deal to fall through can be avoided by completing an in-depth pre-approval before making your offer. Treu Group Real Estate provides a buyer consultation before we go to look at homes, so that you can be prepared to make your offer the minute we find your dream home!

Things to Know About the Palm Beach County Market

If you’re looking to jump into the Palm Beach County real estate market, here are some things you need to know.

The real estate market can be a little bit confusing, especially if you’re getting your information from friends, family, or the news. So I wanted to give you some accurate information about the Palm Beach County market.

Last month, we had 5.1 months of inventory. That means we’re still in a seller’s market. If you’re looking to buy, you’re going to need to be prepared, and if you’re looking to sell, you’re going to be pretty happy.

35.7% of all transactions that closed last month were cash. There were no appraisal contingencies and no financing in these transactions. The median price was $327,000 and that number keeps rising. We still have room to grow, as the number when we were at the height of our market was around $375,000.

A question frequently asked is this: “Are you buying or selling in a buyer's market or seller's market?” It depends on two things: the area and the price range that you’re in. For example, if you’re buying or selling a single-family home in the $200,000 to $250,000 range, then you’re in a very strong seller’s market. There are only about two months inventory in this price range.

There’s always an opportunity in the market.

If you increase your budget and you’re buying or selling in the $300,000 to $400,000 range, then you’re still in a seller’s market and there’s only about three months of inventory. Sellers are receiving multiple offers for these homes and buyers are going to have a hard time beating out the competition.

If you move into the luxury market ($600,000 to $1 million range), you’ll see we’re in a buyer’s market. We have nine months of inventory in this market, so if you’re looking to buy then you’ll have plenty to choose from. The same goes for homes that are priced at $1 million or more. We have 16 months of inventory available in this market, making it a strong buyer’s market as well.

There’s always an opportunity in the market. The question is how do you capitalize on that? Here at True Group Real Estate, we’ve been helping buyers in the seller’s market get the home of their dreams. If you’re selling, we want to help you get the most money for your home.

If you’re in the luxury market and you’re frustrated because your home isn’t selling, we have the right formula to get a sold sign in the yard and you to the closing table. The formula is simple, but it isn’t easy; you need the right price, the right condition, and the right marketing. We can help.

If you have any other questions about real estate, or you’re looking to buy or sell a home, please give a call or shoot us an email. We’d love to help!

Tips for Buying a Home

Buying your first home can be an intimidating process. Lisa Treu, of Treu Group Real Estate, talks about everything you should know before making your first real estate purchase. Did you know that most people underestimate their ability to buy a home? From tips on saving up for that down payment, to advice on building your credit score, Lisa covers everything first time homebuyers need to take into consideration before selecting their home.