5 Tips for Homebuyers Who Want to Make a Competitive Offer

5 Tips for Homebuyers Who Want to Make a Competitive Offer | MyKCM

Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.

1. Listen to Your Real Estate Agent

A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

Your real estate professional should be your primary source for answers to the questions you have when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you’re a serious, qualified buyer and can give you a competitive edge if you enter a bidding war.

3. Be Ready to Move Quickly

According to the Realtors Confidence Index, published monthly by the National Association of Realtors (NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today’s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t submit an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Be a Flexible Negotiator

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego. Freddie Mac explains:

Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home, and a trusted expert can help you rise to the top along the way.

Posted by Roberta Watson on December 1st, 2020 7:42 AM


Why Working from Home May Spark Your Next Move | MyKCM

If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.

While the pandemic continues, Americans are re-evaluating their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so low.

A recent study from Upwork notes:

“Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.”

To put this into perspective, last year, 6 million homes were sold in the U.S. This means roughly 2 – 4X as many people are considering moving now, and there’s a direct connection to their ability to work from home.

The same study also notes while 45.3% of people are planning to stay within a 2-hour drive from their current location, 41.5% of the people who are citing working from home as their primary reason for making a move are willing to look for a home more than 4 hours away from where they live now (See graph below):Why Working from Home May Spark Your Next Move | MyKCMIn some cases, moving a little further away from your current location might mean you can get more home for your money. If you have the opportunity to work remotely, you may have more options available by expanding your search. Upwork also indicates, of those surveyed:

“People are seeking less expensive housing: Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.”

Whether you can eliminate your daily commute to the office, or you simply need more space to work from home, your plans may be changing. If that’s the case, it’s time to connect with a local real estate professional to assess your evolving needs and determine your path together.

Bottom Line

This has been a year of change, and what you need in a home is no exception. Let’s connect today to make sure you have expert guidance on your side to help you find a home that fits your remote work needs.

Posted by Roberta Watson on November 16th, 2020 10:31 AM


We’re here to tell you that NEW is the new market trend! Nationwide, eager buyers are looking for newly built homes, says Dave Ramsey; recent real estate news suggests that the slow rate of new construction is contributing to the rising prices over the last few years. In fact, new home construction is projected to increase by 8% in 2019!

While the Ocean Reef real estate market typically sets its own trends, we seem to be following suit with the new construction bandwagon. New construction and recent renovations seem to be sold before the listing hits our MLS.

Take these recent pending beauties as examples: (Two of them didn’t even last a month!)

 
(Above: 17 Country Club and 23 Dilly Tree)

 
(Above: 7 South Harbor Drive and 50B Fairway Lakes)

As you know, hind sight is often 20-20 in real estate; especially at Ocean Reef. Buyers who are “new construction” homeowners are scoring the most desirable homes by acting quickly. 

Our recommendation is to act fast with an agent you trust; don’t suffer from “I'm Not the Buyer Remorse.” 

Article Links:

https://www.daveramsey.com/blog/real-estate-trends

https://realestate.usnews.com/real-estate/articles/what-to-expect-from-the-housing-market




Posted in:Tips and tagged: Marketoceanreeftrend
Posted by Roberta Watson on February 8th, 2019 2:38 PM


TopTenRealEstateDeals.com recently released a list of the top 10 celebrity homes of 2018, which means that living like a star has never been easier.
Moreover, Kathie Lee's gorgeous Ocean Reef estate at 19 Card Sound Road made the top 10!

The article reads: "Kathie Lee Gifford is parting with her Florida mansion, which is located in the Ocean Reef Club in Key Largo. Spread across 11,400 square feet, the three-level house is equipped with eight bedrooms and eight baths. Notable entertaining spaces include a gourmet kitchen with a pantry, a formal dining area, and a spacious great room opens to a screened-in terrace with a swimming pool and outdoor kitchen beyond."
See more at: 19cardsoundroad.com

Follow the article link below to continue reading the Robb Report article:
The Top 10 Celebrity Homes to Hit the Market in 2018



More of Ocean Reef Club in the news:
Spas of America Unveils North America's Favorite Spas of 2018
Renewed Hope for Coral Reefs Around the World
Posted by Roberta Watson on January 11th, 2019 12:41 PM


Nearly $3 Million exterior improvement project is now complete!

Featuring exterior paint, concrete and railing refurbishment and a fully refurbished landscape, lighting and irrigation plan. Not to mention the dramatic improvements to its distinctive waterside amenity terrace, featuring infinity pool, spa, covered cabana and outdoor kitchen.

Harbour House’s 48 Units are among the most distinctive in South Florida. Each oversized Unit is accompanied by a separate mezzanine guest suite, assigned covered parking, marina slip, a golf cart garage and serviced by fiber optic television and data for the ultimate in modern conveniences. New security cameras and building safety system features throughout the property now secure Harbour House’s exclusive 19 acres. 

Most units have now been renovated with prices now in the low $2 million range, or $475-500 per foot. Harbour House remains Ocean Reef’s greatest value in a newly reconditioned environment, bordered by the Upper Keys most distinctive mangrove estate. The Spectacular views overlook the pristine environmental wonderland of the Florida Keys, with units facing the protected mangroves of Angelfish Creek, the Atlantic Ocean or the exclusive Card Sound Golf Course. Units have gorgeous sunrise and/or amazing sunset views from the elevated 3rd through 5th floor units—all units overlooking water, whether it be the Atlantic Ocean, Angelfish Creek or the beautiful lake of Card Sound Golf Course.  

Situated at the northeast edge of Ocean Reef on the water, away from the high traffic areas and roads, but close enough to the hotel, fishing village, cultural center, library and other areas of Ocean Reef, Harbour House captures the best of both worlds—exclusivity and privacy, while being no further than a few short minutes from everywhere. 

View our Featured Harbour House Listing, 39 Barracuda Lane, by clicking here.


Posted by Roberta Watson on January 11th, 2019 12:41 PM


Apparently, downsizing is so 2016. New housing trends indicate a move to bigger (not tinier). 

Season is almost here and the Ocean Reef real estate market has already started to rev up after its summer snooze. Like the rest of the country, we’ve noticed the upsizing trend really pick up in our little hamlet; and some of our young families are skipping the starter-home size all together. 

According to Zillow.com research, young consumers are beginning to prioritize space. A whopping 56 percent of millennials said that having a large home is important to them, compared with 42 percent of Gen Xers and just 35 percent of baby boomers.
Studies argue that several factors could be impacting the shift in housing trends including the strength of the national economy. But how do you feel about the influence that television has on this trend?

When’s the last time you watched HGTV? Have you noticed the size of homes on their shows? We’ve definitely noticed the dining tables that seat 12 people! We’ve also noted that new census data shows that the median square footage of new homes is up 20 percent since 2000, from about 2,000 square feet to about 2,500 square feet. Add to that the shift in how homes are designed, with a nod to larger, open spaces. Gone are the days of rigid, closed-off eating spaces or television rooms.

What about you? Does size matter?

Check out Investopedia's thoughts: https://www.investopedia.com/articles/personal-finance/111715/5-reasons-retirees-are-upsizing-instead-downsizing-their-homes.asp


Samantha Ochoa, Sales Associate
Watson Luxury Properties
Posted by Roberta Watson on October 30th, 2018 2:05 PM

We love The Lighter Side of Real Estate for a little comic relief in our line of work. However, sometimes they post an article or two we find to be pretty interesting, especially when concepts are related to our unique community’s real estate market.

Take this article for example: 4 Reasons You Should Sell Your Starter Home Right Now.

With the off-season coming to a close, inventory in Ocean Reef has disappeared and prices are about to peak as we approach our in-season hustle. Interest rates are at an all time low, and while Ocean Reef is not known for their inventory of less-than-luxury homes, it is time to trade up. So if you’ve ever had any inkling of desire to spread your wings, it’s time to take action.

Here at Watson Luxury Properties, a member owned, family operated firm at Ocean Reef, we specialize in superior customer service and the one-on-one relationship you can expect from a small business. We absolutely pride ourselves in making the buying or selling of a home a stress-free and enjoyable process for our clients. If you’re ready to upgrade (or downsize), we’re a pleasant phone call away!


Samantha Ochoa, Sales Associate
Watson Luxury Properties
Posted by Roberta Watson on October 5th, 2018 9:53 PM
Did you know that Christina Watson and Samantha Ochoa, both proud Sales Associates at Watson Luxury Properties, are also members of our community’s Academy PTO Board? Christina, President, and Samantha, Treasurer, each have two children that attend the Academy.

  

The Academy at Ocean Reef (located right next to the Member Fitness Center) is a coeducational independent school dedicated to providing the highest quality of education; and home to some truly gifted children that are going to take the world by storm someday.
Now that school is back in session Christina and Samantha have something to ask you:

Do you have a gift to share?

The Academy PTO is looking for talented speakers to visit our school, shake up the classrooms, and INSPIRE our PK-8th grade students. Ocean Reef is home to some of the smartest, most accomplished people on the planet who have graduated with honors, won awards, started companies, followed their dreams and achieved goals many have never dared try one’s hand at! (Oh, don’t be modest. We see you.)

So, what is your life's greatest achievement?  Want to share it with some eager listeners?  We've already got a geologist lined up (can you say VOLCANOES?) and we are looking for a few more.

If you are interested, please contact Christina or Samantha ASAP so they may get you in the lineup. The kids would love to hear from you.

Email: ptoacademyator@gmail.com
Christina’s Cell: 410-599-1550
Samantha’s Cell: 305-910-5296

Posted by Roberta Watson on September 27th, 2018 12:57 PM
We are enjoying the company of dozens of refugees from the Carolinas. None of them have received news about possible damage but they obeyed their governor and got out of the way.

Our anniversary of Irmageddon striking our island chain was Monday, September 10th, and you can bet we are prayin' for leniency for our neighbors in the Carolinas. It wasn't so long ago that we were picking up debris amidst the smell of dehydrated salted sea life.

Actually, according to our county annual report, 2.5M cubic yards of debris, including 22,000 flooded appliances, were removed from the Fabulous Florida Keys. The largest number of damaged homes was in a stretch from Marathon to Big Pine Key. 1,200 homes were destroyed, 3,000 had major damage and 5,400 had minor damage. (Not including mobile homes). 1,600 boats sustained damage or sunk. 1,100 cubic yards of debris was pulled out of the canals in the Keys. That project is still ongoing a year later.

"Hurricane Irma" was the number 1 searched google topic nationally and globally in 2017.  As Hurricane Florence is likely to be in 2018. To donate for Florence Relief you can text Florence to 90999 or click here to visit the Red Cross' website. Other links: The Weather Channel: Catastrophic Flood Threat Increases This Weekend as Florence Slowly Tracks Across the Carolinas, Appalachia CNN: Florence pummels the Carolinas The New York Times: Hurricane Florence Live Updates The Wall Street Journal: Tropical Storm Florence: Live Updates

Live the luxury island life ????


Bobbie Watson, Owner, Broker, Realtor
Watson Luxury Properties
Posted by Roberta Watson on September 15th, 2018 9:11 AM



With Hurricane Irma’s first anniversary looming, we can’t help ourselves but to remember the devastation Ocean Reef and the Florida Keys experienced with Irma’s impact on September 10th. Irma was the fifth-costliest tropical cyclone on record at $64.76 billion. Those with adequate insurance coverage for their damages were truly blessed.

Recently, we were lucky enough to meet with Meg Dieppa and Cheryl Lyons of MARSH here at Watson Luxury Properties to freshen up on our insurance IQ. Apparently, we can’t navigate the world of insurance without professional help, and we aren’t afraid to admit it! We do notice that many home buyers here at Ocean Reef typically call up their insurance brokers in other states to add their new piece of paradise to their existing policy or bundle. Which we always thought to be very efficient. However, I’m sure you knew this already, Florida is a wacky state (in more ways than just insurance), which is why we now recommend to our clients to give MARSH a call and request a free review of all your policies from this state’s experts. Plus, MARSH, now recognized as the largest broker in the world, is also a member of our Ocean Reef Chamber of Commerce!

The most noteworthy information we got out of the whole meeting, was that they are salaried employees. Yes, that’s right, the policies they write for you are not commissioned. So you can trust that they are truly in this to help you (there isn't just dollar signs in their eyes). They love what they do, and they are darn good at fitting all the puzzle pieces together.

Other Links:

Email Meg Dieppa here.
Email Cheryl Lyons here.
Check out their Brochure here.

Forbes: Hurricane Insurance: Is It Important? Why Do You Need It?

WSJ: As Hurricane Season Arrives, U.S. Homeowners Haven’t Fixed Their Big Underinsurance Problem

 

Posted by Roberta Watson on September 8th, 2018 7:41 AM

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