What Do Jupiter Home Price Reductions Mean for You?

There are a variety of opportunities in the South Florida real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Recently, we at the Simmonds Realty Team have noticed a shift in the market. We keep a close eye on trends and market statistics in our area, and we're starting to see a lot of price reductions in the Jupiter area. 

What does this mean for you?

For one, price reductions mean the market is beginning to stabilize. This shift means our market is less likely to favor sellers right now, like it has in the past. These price reductions mean sellers are getting as much as they thought they would, that their homes are priced too high. Because of this, inventory is on the rise! 

These conditions mean we have more of a neutral market. Because of this market shift, pricing your home right is crucial. Putting the right price on your home will surely help it sell, especially if it's in great condition!

If you have any questions about buying or selling in our current market, or if you need real estate assistance of any kind, give us call or shoot us a quick email. We would love to hear from you!

How Do Realtors Get Paid?

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There are a variety of opportunities in the South Florida real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Hey everyone, today we are talking about Realtor fees. Most people I meet with don't have a clear understanding of how Realtors get paid for a living in terms of the commission they  take. 

When you are selling your home with an agent, you are going to pay a commission, usually a percentage of the final sale price. The standard commission in our area is 6%, with 3% going to the buyer's agent and 3% going to the listing agent.  

All of our time, marketing, and advertising is invested upfront on our behalf until our client's property closes. For practical purposes, let's say we earn 3% on your sale. Of that 3%, 15-25% will go to our broker, Keller Williams. An addition, costs we incur is our marketing fees, which will be about 10% of that 3% commission. 50 cents out of every dollar we make goes back into our business and our clients. When you hire a Realtor, you want to find someone who will work for you, and that's what we do. If investing half of our earnings back into our clients doesn't demonstrate that, I don't know what does. 

If you have any questions or are looking to buy or sell here in Jupiter, give us a call or send us an email. We look forward to speaking with you soon!

What You Need to Know About Appraisals in Jupiter

There are a variety of opportunities in the South Florida real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

We've recently been having some issues with appraisals on homes in Jupiter, and I'd like to clear up these issues in this video. 

When a home doesn't appraise to the market value that's being asked for it, what happens and who pays the price? Typically the rule is that if you are financing and you bring less than a 20% down payment on a home that does not appraise, then the terms of the loan will likely change. You can then use the appraisal to bargain with, or opt-out of, the contract. 

However, if you are only financing 50% or 60% of the home, then the seller does not have to come off of their asking price. If the seller is pushy enough, they can force you to purchase the home or lose your escrow deposit. The only way to protect yourself in a situation like this is to have an appraisal contingency written into your contract. This way, if it doesn't appraise, you can opt out any contract no matter what type of financing you have on the home.

This is a very shortened version of what you should do if your home doesn't appraise, but please come to me with questions if you have them.