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Debra Wellins

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Home Flipping is Down

Debra Wellins The business of home flipping, a purchase and resale in less than six months, is down.  According to RealtyTrac's First Quarter U.S. Home Flipping Report, 3.7 percent of all U.S. single family home sales from January through March of 2014 were flips. This is a small drop from the previous quarter when 4.1 percent were flipped, and a more significant drop from one year earlier in the first quarter of 2013 when 6.5 percent were flipped. The Profit Home flippers had an average single-family home... Continue Reading >

Eight Steps to Get the Best Price on Your Home

A home in good repair, with fresh pain and new carpets, will always show better and attract higher offers.  If you are thinking of selling your home, follow these recommendations and you will have much greater success. Don't Overprice - The worst case scenario is no showings or no offers.  Buyers who are qualified to buy your home will be shopping in a lower price range. Clean and Remove Clutter - This can include too much furniture or items on desks, tables and counters, including collectables. Paint -... Continue Reading >

Are Zillow Zestimates Accurate in Home Valuation?

Debra Wellins When citing a home's value, I personally have not had a problem with my sellers and buyers believing a Zillow "zestimate" over my Comparable Market Analysis (CMA).  The value generated by a well researched and analyzed Professional CMA is persuasive and clear. Zillow is very upfront about their limitations.  They generate a range for their estimate rather than a specific sales price and they acknowledge their sampling error of plus or minus 7.5 percent.  So a $500,000 home has a 95 percent probability of having a value between... Continue Reading >

Pinecrest Home Sales – Price Per Square Foot Up 13%

  Pinecrest homeowners have good reason to be happy as the first quarter of 2014 comes to a close. I crunched the numbers of single family home sales in The Village of Pinecrest and compared sales from this year to sales from last year for the same time period (January to present). The average sale price is up $ 40 a square foot and the median sales price is up $37 a square foot.  That's a 13% increase for both average and median sale price per square foot. I am a Pinecrest... Continue Reading >

Two Sales in Snapper Creek Lakes

Two homes were snapped up by buyers this year in Snapper Creek Lakes. 5545 Arbor Lane Sale Price  $4,994,500 $491 per Square Foot Brokerage:  EWM Realty International This home is of superb craftmanship with impeccable woodwork and details throughout.  The spacious 6 bedroom, 8 bath craftsman-inspired residence was custom-built in 2008 and includes his and her offices, playroom, media room and 4-car garage with over 10,000 square feet of living space on over an acre.   [gallery ids="7354,7355,7356"] 10645 Snapper Creek Road Sale Price $3,100,000 $424 per Square Foot Brokerage: Kendall... Continue Reading >

Pinecrest Homes – February Sales

The February 2014 stats are in and the number of single family homes sold in the Village of Pinecrest is identical to February of last year. Twelve homes sold at an average sale price of $1,435,683 or an average price per square foot (SF) of $323. When looking at all sales for the month of February, the average sales price per square foot is up 18% from last year.  However, there is one sale that tremendously skews the data. In the chart you will notice the sale of a 2 bedroom, 2... Continue Reading >

Pinecrest Homes – Rosy Sales in January 2014

Debra Wellins Single family home sales in the Village of Pinecrest are rosy this year compared to last.  Seventeen homes closed this January with an average sales price per square foot of $290.00 and an average sale price of $1,435,338. In 2013, only 10 homes closed during the same month with an average sale price per square foot of $ 238 and an average sale price of $784,500. That's an 18% increase in sale price per square foot and a 45% increase in average sales... Continue Reading >

What’s For Sale in Pinecrest?

Debra Wellins As of January 31, 2014, there are 95 single family homes for sale in The Village of Pinecrest. The hot price ranges are between $1 - 2 million with 33 active listings and $500,000 - $999,999 with 26 active listings. In the ultra luxury market, 19 homes are for sale between $2 - 3 million, 12 homes are for sale between $3 - 4 million and four homes are for sale above $4 million.  Only 1 home is for sale under $500,000. In January, Pinecrest had 25 new homes come on the... Continue Reading >

The Village of Pinecrest 2013 Market Report – The Year in Review

In The Village of Pinecrest, 228 homes single family homes sold in 2013 with a total sales volume of $254,928,575.  Sales ranged from $305,000 to $3,800,000.00 with an average sale price of $1,118,108 and an average price per square foot (SF) of $256.  The average sale price increased 13% and the average price per SF increased by 9% over 2012 values. In the exhibit below, Pinecrest is divided into approximate quadrants to evaluate the statistical differences within the community. North and south is divided by 112th... Continue Reading >

Luxury Defined – Miami – New York – London

Debra Wellins Christie's International Real Estate just came out with their report on the state of luxury real estate in three world class cities, Miami, New York and London, all of which are experiencing significant growth. Buyers with high net worth, wishing to spend $1 million or more on residential property, can afford to acquire homes anywhere in the world, and often do so in multiple locations.  They view real estate as a safe investment. While 2012 was a rebound year for increasing home prices in... Continue Reading >