Client Success In This Hot Market - The Move May, 2021

Dated: September 1 2021

Views: 24

Client success in this hot market! Welcoming agents to The Move

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May 28, 2021

Hi everyone! Derek Stout here. Excited to share a powerful client success story with you AND welcome two incredible agents to The Move.

 

South Florida is booming with the biggest challenges all around supply: supply of Real Estate, supply of dedicated employees, supply of resources to build.

 

This month in The Move:

  • TECH Home Matchmaking
  • Client Success Story
  • Welcome Anna Elizabeth & Ricky to The Move
 
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Real Estate Matchmaking

We have a surplus of tech buyers looking for great properties. If you have a home, condo, or investment property you are thinking of selling text the word TECH to 954-932-8053 or click the link below on iPhone and one of our top agents will be in touch to matchmake your home with one of our exclusive buyers.

Client Success Story

By Derek Stout

This true story from a recent closing demonstrates the market almost perfectly. Congrats to my clients for purchasing an incredible home in Miami!

 

Client has watched one building in Miami for over a year. Watching prices go up. We find a great unit they love and wind up with a backup offer that was not accepted.

 

👉 The seller would have sold for our UNDER ASK offer but they got an OVER ASK offer from an out of state buyer (while we were writing our offer) - seller took that OVER ASK offer.

 

Next, we tour a completely redone unit in the same building (spoiler, they wound up buying) and make a full price offer. This condo is brand new inside, ultimate interior finishes, incredible view. Great place. Price was right where the building should be. Offer accepted.

 

Offer contingent on finance, appraisal, and condo association approval.

 

Finance: client secures a great loan at a fantastic rate - WOW ❤

 

Appraisal: appraiser comes out and they value the unit at 8% less than the contract price. HUH?

 

🤦♂️ WAIT WAIT WAIT

 

We check the comps and nothing in the building is selling that low. In fact, my buyer is getting a great find. 

 

ARGUE WITH APPRAISER

 

Appraiser winds up making an improved adjustment to the appraisal but still not at the contract price.

 

Rightly, the seller would not concede a penny because they know that in this market they can relist and get another buyer or higher price no problem.

 

🚀 Client had to increase their down payment to cover the appraisal gap.

 

Because of a great lender, help from me, and my client’s commitment to the process we were able to close and now they have a great place!

 

This is the market in a nutshell:

  • Out of state buyers are paying over ask because they think our prices are cheap
  • Local buyers biggest competitor are cash buyers
  • Sellers are facing difficult transactions with owners out of state or out of the country, and buyers also in other places. These deals are tough when no one is in person.
  • Local buyers biggest advantage is that you're here and you can make an offer the day you see it
  • Don't count on the appraisal one way or another
  • Work with caring professionals from lending to your Realtor to the Title company to make sure the deal goes through

Schedule An Appointment

Call Derek at 954-932-8053, email derek@derekstout.com or use Calendly to schedule an appointment. If you are looking to sell a property, purchase, or find a new commercial space for your business Derek can help.

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The Move is Growing!

 

Welcome Anna Elizabeth Diaz and Ricky Centeno to The Move. 

 

Anna Elizabeth and Ricky are both highly experienced Ancona Real Estate agents dedicated to concierge services for buyers, sellers and commercial clients in South Florida's competitive market.

 

We are joining forces to deliver non-stop customer service to our valued clients.

 

📽 Watch Anna Elizabeth and Ricky in their own words below in their powerful YouTube Biographies.

 

Welcome to The Move, a Real Estate Group by Derek Stout at Ancona Real Estate.

 
 
 
 
 
 

Let us know what your dreams are so we can make them come true.

 

🌞 There are over 90,000 Realtors in South Florida. Many are part time, half time, or no time. At Ancona Real Estate and The Move Florida we are 110% non-stop obsessed with what we do. Whether you are looking to rent a commercial space, purchase a home, or sell a multi-million dollar luxury property we make The Move happen.

 

Sincerely, Derek Stout, Anna Elizabeth Diaz, Ricky Centeno and Ancona Real Estate INC.

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Derek Stout

My passion for real estate began when I was a child, touring the luxury Parade of Homes in Plano and Dallas, Texas with my mom, Connie. We spent afternoons looking at houses, and picking up design ide....

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