Searching for real estate in the local MLS system for Naples and Bonita Springs is the fun part of looking for a home. Touring the properties with a knowledgeable Realtor brings it to life. The important part of actually buying a home is the contract. Think you know what you're doing? Check out some of these bullet points and you may have more questions than you do answers: There are actually two contracts that are commonly used in our area - the NABOR contract and the FAR/BAR. Do you know … [Read more...]
Naples, Fl – What is a pocket listing?
What is a pocket listing? A so-called "pocket listing" is a property for sale that is not in the MLS system (Multiple Listing Service). That sounds simple but, pocket listings come in different shades of gray. Sometimes, a pocket listing is merely a home or property that has a signed listing agreement with a real estate broker but has not been entered into the MLS system as yet or paperwork remains to be processed in the short period of time between signatures and data entry. It is possible … [Read more...]
Naples FL Home Buyers – Seller’s Market, Buyer’s Market or Transitional
tran·si·tion/tranˈziSHən The process or a period of changing from one state or condition to another. Is our Naples area real estate market in transition? Lots of people toss around catch phrases like “shrinking inventory”, we see listing price increases in certain select situations and there are anecdotal stories of multiple offers which may or may not enlighten the buyers that our market has changed over the last year. Real estate is not “rocket science”, as they say – however, our market … [Read more...]
Naples FL – Real Estate Terms – Did your Real Estate Agent just Buy Your Listing?
What does it mean to “buy a listing”? So you are seriously thinking of selling your home and you do the right thing by calling an agent you know, encountered, worked with before or one who has stayed in touch with you over the years - to give you an opinion on the value of your home. They do their homework, research the solds and the active competition and report to you a value that you obviously do not like - it's understandable who would not want more for their home - but the honest and … [Read more...]
Naples FL Real Estate Terms – A Home Inspection is Not a Feasibility Study
I can understand if the public/consumer might think that those two terms are the same. But I am constantly amazed by how many agents use the term home inspection as if it were a feasibility study, and tell their buyers to make an offer on a home and that they will have 15 days during the home inspection to think about it. Let's just address the two terms: Feasibility study- is a term mostly used in commercial real estate contracts. It allows the buyer to study/ research the commercial … [Read more...]