If you are reading this article, you are probably thinking of moving into another house in South Florida or a completely different state. Whether you are trying to quickly escape a moldy house or you are just sick and tired of hurricanes, don’t panic! You have options!
In this article, I will explain the different options you have based on your homes conditions and the current real estate market in South Florida (Broward County, Palm Beach County, Miami-Dade County). Also, if your house needs major repairs or a major clean up, don’t worry. At the end of the article, I will let you know how to quickly get a fair cash offer for your problem home.
What’s the Housing Market Like in South Florida?
If you are thinking of selling your South Florida house, now is the time to do it! Housing prices are inching closer and closer to the peaks which were hit before the housing crash in 2008. Economists, like Ken Johnson of Florida Atlantic University, believe that the market will experience a slight dip soon or prices will level out.
According to the Realtors Association of the Palm Beaches, in June this year, the median price for a West Palm Beach, single-family home was $345,000; an 8 percent increase from last year’s prices. As of June 2017, the median single-family home in Miami-Dade was $335,000 according to the Miami Association of Realtors; a 6 percent increase from last year’s prices. Broward’s single-family homes were found to have a median price of $355,000, a 9 percent increase from the previous year, said the Greater Fort Lauderdale Realtors.
Did Hurricane Irma Affect South Florida’s Real Estate Market?
Some of you may be thinking, “Should I sell my Florida house so soon after Hurricane Irma?”; the simple answer, YES! According to an interview done by CNBC, Jeffrey Soffer, real estate developer and CEO of Turnberry, “The damage by Hurricane Irma in Florida is not as bad as it could have been and shouldn't affect real estate prices.” However, Soffer also mentioned that “insurance costs will go up” for Florida residents.
When Soffer mentioned real estate prices being unaffected, he may have been talking about the real estate prices of homes without damage. Alex Garcia, a senior agent for Redfin, stated “Don’t even think about listing a home for sale if there’s any damage to it. Somebody was going to put their property on the market with water intrusion. I said ‘You cannot go to market with any kind of damage. It has to be corrected’.”
The last factor to take into consideration is construction and renovation costs when you are thinking about keeping or selling your house after a hurricane. If you have a house that needs major renovations that are not covered by insurance, it might not be the best time to try to repair your house and sell it. After a hurricane, most contractors tend to work for insurance companies to fix houses affected by the storm. Because of this market shift, there will be a shortage of workers and building supplies. It will also cause prices to increase. To sell an unrepaired house after a hurricane, you may have to sell your house “as-is.” If you’re interested in this, check out the end of the article.
In conclusion, the value of your house will not go down because of Irma, unless it was damaged by the storm. Your insurance prices and repair costs, however, will rise. For houses in disrepair or in need of renovations, reference the end of the article for how to sell your house “as-is.”
Is Your South Florida House Market Ready?
When asking yourself “Is my house market ready?” You need to consider everything from your furnishings to your HVAC system. To help you get an idea, refer to the list of items below for activities you should do before putting your house on the market.
Market Ready Checklist
- Declutter Your Home
- Any unnecessary items should be stored or thrown out. Make sure to not overlook bookcases, hutches, and other conspicuous places.
- Empty Closets
- Empty every closet as much as you can. Remove seasonal clothes and clothes you do not wear.
- Get an Inspection
- Inspections are usually reserved for buyers, but if you get an inspection ahead of time, you will be ready for any major repairs and will be able to research any needed repair estimates.
- Research Repair Estimates
- Find out how much it will cost to fix your house’s major issues, like a broken furnace or water heater, a leaky roof, a major mold problem, or a pest issue.
- Paint and Flooring
- When painting your home be VERY careful. Use popular neutrals. Tip: search Pinterest for popular neutral paint colors. When choosing a carpet color, also go for neutrals. If you have wood floors, get them re-finished, but do not get new wood floors if you do not have to. You won’t be able to make back your investment.
- Clean, Clean, Clean
- Try to make your house look perfect, like a show house. That means all those bundles of lint beside your dryer or that stubborn stain on your carpet. If you need to, get your home professionally cleaned.
- Those adorable pictures that your child drew that are posted on the fridge, unfortunately, have to go. Also, family photos do not allow prospective buyers to imagine themselves living in the house. So, remove any family photos.
- Store It
- You may have to store items, such as furniture that is cluttering your house or that old lawn mower that you never use.
- Detail the Landscaping
- Try to make your landscaping look clean and elegant. Remove all weeds and plant flowers, if your climate and season permit.
- Set the Stage
- Whether you are getting your house professionally staged or if you are adding extra touches to your house, be sure to stage in some way. For example, if you have a dining room or kitchen table, make sure to set the table with silverware, a plate set, and napkins. For people looking to get their home staged, call stagers and ask to look at their portfolio. Coldwell Banker Real Estate Corp. found that staged homes spent half the time on the market and on average sold for 6 percent above the asking price.
- Plan Play Dates and Pet Sitting
- Allow people to imagine themselves in a house by removing distractions like children and animals. You are not going to want to explain unnecessary details like animal fur in your ducts or how you seemed to get out pet stains from your carpets.
- Get Rid of Unpleasant Odors
- Remove garbage, litter boxes, and anything else that has an unpleasant odor and replace their smells with the smell of cookies, fresh smelling candles, or clean carpets.
If you do not want to do all this or if you do not have the money to make all these changes, then you might want to re-think putting your house on the market. There are cheaper, faster, and easier ways to sell your house.
Sell My South Florida House Fast and “As-Is”
If you are asking yourself “How Can I Sell My Florida Home Fast,” then look no further; the best way to sell any house fast is through a real estate investor. Whether you need to sell an inherited home in Florida, have major repairs that you cannot afford to fix, need to do a major clean up that you cannot handle, or just want to sell your house in Florida the fast and effortless way, you should call a real estate investor for an offer.
All Real Estate Investors are Not Equal
For the most part, selling your house with a real estate investor will be quick and easy; but unfortunately, all real estate investors are not equal. A small real estate investing company or inexperienced investor can waste your time and money while trying to gather enough cash to pay for your house. Even worse, an investor could waste your time and money, then back out of the deal at the last minute. So if you decide to sell through a real estate investor, choose wisely!
At Express Homebuyers we believe that you should not take a risk when it comes to dealing with such a large investment. We have purchased over 2,500 homes since 2003 and have an A+ Better Business Bureau rating. If you would like to find out more about selling your house in South Florida, give us a call or fill out the form. Here’s our 3 step process:
- Receive a fair cash in just minutes.
- Schedule a time for us to visit your house.
- Confirm all paperwork and get CASH.
It only takes a few minutes to get a fair cash offer on your home. So, what are you waiting for?