Smith Realty Group
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What's New at SMITH REALTY


Report dated October 23, 2013

About Mariners Cove

For Sale:
There are currently 4 homes for sale in Mariners Cove. Prices range from $483,000 to $799,000. Currently listed homes range from 3500 to 6091 sq ft.

Click here to view all homes currently for sale in Mariners Cove.

Sold:
One home sold/closed this month in Mariners Cove.

116 Lighthouse Point; listed for $460,000 sold for $431,000 on 10/15/13.

Under Contract:
No homes are currently under contract in Mariners Cove.

If you are buying or selling in Mariners Cove and would like to speak to your community expert, Click here to Contact Karin Smith


Report dated October 22, 2013

About Clipper Estates

For Sale:
There are currently 9 single family residential, navigable waterfront properties for sale in Clipper Estates. Prices range from $364,900 to $699.000. Sq footage ranges from 2450 to 3919.

Click here to view all properties currently for sale in Clipper Estates

Sold:
No single family residential properties sold in Clipper Estates this month to date.

Under Contract:
One property is currently under contract in Clipper Estates.The sold prices are not public until closed.

1508 Cutty Sark Cove, listed at $384,000.

 

If you are buying or selling in Clipper Estates and would like to speak to your community expert, Contact Karin Smith

 



Report dated October 22, 2013

About Masters Point

For Sale:
There are 10 houses currently for sale in Masters Point. Prices range from $299,900 to $449,000. Sq ft range from 2543 to 3825.

Click here to view all properties currently for sale in Masters Point

Sold:
No properties sold/closed in Masters Point this month to date.

Under Contract:
Two properties are currently under contract, sold prices are not public until closed.

137 W. Augusta Lane listed at $329,000.
417 E. Honors Point listed at $233,748.

If you are buying or selling in Masters Point and would like to speak to your community expert, Contact Karin Smith

 


Report Dated October 22, 2013

About Eden Isles


For Sale:
There are currently 28 single family residential, navigable waterfront properties for sale in Eden Isles. Prices range from $169,000 to $499.000. Sq footage ranges from 1625 to 5791.

Click here to view all properties currently for sale in Eden Isles

Sold:
Four single family residential properties sold in Eden Isles this month to date.
222 Southern Star, listed for $179,000 sold for $155,000.
314 Charles Court, listed for $499,000 sold for $462,000.
108 Ondine, listed for $209,900 sold for $195,500.
120 Eden Isles Blvd, listed for $179,000 sold for $100,000.

Under Contract: 
One property is Under Contract, Sold prices are made public after closing.
108 Sirius, listed for $249,900

If you are buying or selling in Eden Isles and would like to speak to your community expert, Contact Karin Smith

 


Report dated: September 19, 2013


For Sale:

There are currently 32 single family residential, navigable waterfront properties for sale in Eden Isles. List prices range from $169,000 to $499,000. Sq ft of living range from 1625 to 5791.

Here is a link to all properties currently for sale in Eden Isles:
Eden Isles Homes for Sale and Subdivision Information

Sold:
Three single family residential, navigable waterfront properties sold in Eden Isles this month to date.
107 Eydie Lane was listed for $184,000 and sold for $176,000.
321 Windward Passage was listed for $259,900 and sold for $225,000.
105 Intrepid was listed for $339,000 and sold for $328,000.

Under Contract:
Four properties are currently under contract in Eden Isles, sold prices are made public after closing.

108 Ondine, listed at $209,900. 
314 Charles listed for $499,000.
120 Eden Isles listed for $179,000. 
222 Southern Star listed for $179,000.

If you are buying or selling your Eden Isles Property and would like to speak to your community expert, pleaseContact Karin


Report dated: September 19, 2013


For Sale:
There are currently 14 houses for sale in Masters Point of Oak Harbor. Prices range from $233,748 to $449,000. Sq ft of living range from 2543 to 3825.

Here is a link to all properties currently for sale in Masters Point:
Masters Point Homes for Sale and Subdivision Information

Sold:
One home sold in Masters Point this month to date.
118 W. Augusta.  2675 sq feet, was listed for $329,900 and sold for $315,000.

Under Contract:
There are currently no properties under contract in Masters Point.

If you are buying or selling your Masters Point Property and would like to speak to your community expert, pleaseContact Karin


The million dollar question! You've spend the last three weeks looking at homes, narrowing them down to two or three of your favorites and going on second viewings of your top three. You are now ready to make an offer on the one you want to call your own. This is when the million dollar question arises,"How much below list price should I offer?"

Let me start by mentioning real estate is local, the answer to this question is based on market trends for the local area in which you are shopping.  This being said, I'm focusing my answer on our local market, Slidell, Louisiana and the Northshore.

Motivated sellers aren't listing their homes, going through the motions of keeping it in showroom condition and accepting the fact that 'strangers' are viewing their properties on a regular basis just for the fun of it.  They are doing this because they have a motive... to sell their house.  Therefore, they know in order to receive an acceptable offer, they have to have showings.  

How do they get these 'showings' you say?  For starters, by listing the property at an attractive price, a price in which an educated buyer will use to compare many properties listed in a particular price range to determine which property will give them the most bang for their buck! 

Now, think back to the beginning stages of this process.  You consulted with your buyers agent to discuss with them your mission.  You had 'must haves,' 'nice to haves,' and  'absolutely must-not haves.'  And.... you had a price range.  Your agent went to work, searching for and selecting the cream of the crop, the properties that best met your criteria AND your price range.  You viewed them all, compared them apples to apples and have now selected the property that most fits your needs AND your budget.  This was not random, this was work and effort on your part to become an educated buyer, you weighed out your options and you made a decision.

Now, on the other side of the table there is a seller who through his agent did the same thing.  There was a reason you selected this home ... in addition to the fact it suited your needs cosmetically ... it was also priced right!

So, back to our question... "How much should I offer below list price?" 

For the past 4 years the median list price- vs - sold  price in our area has hovered just at 96.4%.  = 3.6% off of list price.  This answers the question "How much can I realistically buy this house for?"  How much you should offer, on the other hand, depends on whether or not there are other buyers eying the same property.   

If you aren't risking a multiple offer situation and you you prefer to play the game just to see if seller will go lower, offering 6-7% below list price will usually get a response.  Seller may go ahead and accept it because it is only a few percent less than they anticipated or you more than likely will end up with a counter offer from seller of 3-4% off of list price. 

If, on the other hand, the house has shown multiple times in the last week,  you may want to rethink your initial offer.  Keep in mind another potential buyer may very well make their initial offer at 3-4% below and win the bid.

So, there you have it.  You can usually expect seller to accept 3.6% off of list price in our market based on local market statistics. 

As always, feel free to Contact Me to introduce yourself!  Let's get acquainted and see how I can be of assistance to you!

I'm an active Buyers Agent as well as Listing Agent and the Broker/Owner of Smith Realty Group.

Happy House Hunting,
-Karin :) 

 


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