Here are a few things to check out in St Petersburg & St Pete Beach today, Friday, October 13th and tomorrow Saturday, October 14th. Ooooo, Friday the 13th…good luck & have fun!

Friday, October 13th, 2017

Friday Night Music Series at Sundial
Free Friday Night Music Series with Ella Jet, a jazzy neo-soul singer/songwriter from St. Petersburg and in 2014 was selected for the Grammy Museum’s Music Revolution Project.  6pm-10pm. Sundial St. Pete, 153 2nd Avenue North.

Concert in Horan Park, 7701 Boca Ciega Drive, St. Pete Beach

Bring your chairs and blankets and enjoy live music under the stars. Food, beer and wine are available for purchase. Featuring the Alter Eagles. 7pm Free.

Make a Clay Pumpkin at Morean Center for Clay
2-hour introduction on wheel-throwing, for a limited time learn to make your own ceramic Jack O’Lantern. Bring a towel, your favorite beverage. All clay materials included. At the end of class and they will bisque & glaze your piece. Cost is $100 for up to 4 people, $25 per additional guest. Register at (727)821-7162. 420 22nd St South.

Saturday, October 14th, 2017

St. Pete Beach Fire Rescue, 7301 Gulf Blvd., St. Pete Beach

Families can meet local firefighters and Sparky the Fire Dog with fire station tours, child fingerprinting, face painting, games and fire safety information. 11am Free.

Mastry’s Brewing Company Birthday OktoBeerfest

7701 Blind Pass Road, St. Pete Beach

St. Pete Beach’s first and only brewery turns one year old, live music, new beers on tap, food & other local beermakers that helped get the brewery started. 12 noon


Zine Fest & Cassette Store Day 
at Daddy Kool Records

Join Daddy Kool Records celebrates zines and cassettes! Local zines (small publisher magazine-fanzine, webzine) sell their zines, prints, shirts, pins & patches. It is also Cassette Store Day so there will be exclusive cassette releases, a cassette-based DJ, & free cassette mixtape of local bands curated by Ricky of Reality Asylum! 1pm-6pm. 666 Central Ave, St. Pete

Oktoberfest Ride at Hofbrauhaus St. Pete
‘Burg Pub Riders are back for Oktoberfest-Dirndl dresses & Lederhose. Meet at 5pm and leave around 6pm for Hawthorne Bottle Shop and end at the Independent. Please make sure to bring lights since this will be a night ride. 123 4th St South.

Inaugural ArtsXchange Gallery Art Show at the Warehouse Arts District
The Inaugural ArtsXchange Gallery Art Show with artwork from 22 of the ArtsXchange’s new artists. “Where Art Is Made” Show starts at 5pm. 515 22nd St South. 

ArtWalk at St. Pete Artworks, 635 Central Ave., St. Pete

David Larson Evans’ solo exhibit, “On Being Human,” with indie-folk-pop music of AmandaLynn.  5pm Free.

Florida Holocaust Museum:The Book of Fire Reception

55 Fifth St. S, St. Petersburg

Reception for an exhibit of paintings, drawings, prints and artist’s books designed to propel viewers into a world of fire and devastation. In conjunction with Keep St. Pete Lit, nine writers perform their short stories, poems and imaginings inspired by this exhibition. Complimentary beer, wine & light snacks. 5:30pm Free.

The Florida Orchestra POPS: Swing is the Thing at the Mahaffey Theater
Jump ‘n’ jive from the 1940’s to the ‘60s with hits like Boogie Woogie Bugle Boy & Rock Around the Clock. Featuring dancers, vocalists, on clarinet Dave Bennett.  8pm.  400 1st St SE.

Advertisements

 

Erroneous assumptions about the business can cause a ton of confusion for the public about how the real estate process works.

The real estate process makes everyone an armchair expert by default. The buyer, the seller, their friends, co-workers and neighbors all know how real estate works.

After all, the last time they bought or sold a home was 10 years ago, and in their view, not much has changed. Misbeliefs and bad information are a dangerous combination.

People don’t know what they don’t know, and what they do know is enough to create false perceptions of a profession that is often surrounded by damaging assumptions. Here are 15 real estate myths — busted!

1. Real estate agents are paid a salary

Despite what many think, the public is horribly confused about how agents make a living.

There must be a salary floating in the background that supports agents — after all, how is it that they can appear so well-groomed, professional and polished while hosting lavish broker events, open houses or other marketing activities, showing customers around town all day and buying them lunch?

Attention perpetual house shoppers and sellers just testing the market: the agent’s time and expenses are 100 percent on them.

Are you a rich broker, or a poor broker?
How to drive automation and profit from Robert Kiyosaki’s ‘Cashflow Quadrant‘ READ MORE

There is no base salary or reimbursement for the time and money they’ve expended no matter the outcome, whether it’s 500-plus messages or hours of research, advice, problem-solving, trouble-shooting, giving insight over the phone or making countless trips to show property.

How would you feel if your employer decided, as part of its cost cutting, to not give you a paycheck for your all of your work and effort, especially on a big project that involved a tremendous amount of time and effort on nights, holidays and weekends?

2. The agent keeps all the commission

First, the public needs to understand that commission is legally paid to the agent’s employing brokerage company, which in turns pays the agent.

Depending on what side the agent is representing (buyer or seller), their brokerage will earn the listing or selling side commission unless the agent happens to be handling both sides of the transaction.

It is a rare occurrence, but it does happen, and doing so is never a walk in the park.

No matter what the commission is, the amount paid to the agent is not the entire commission — the brokerage takes its portion (to be able to run the company to support its agents and keep the lights on), and then the agent gets his or her split.

The split varies based on the company, business model and the agent’s level of production.

There are usually additional fees that come off the top of the gross amount of commission being paid to the brokerage.

By the time all is sliced and diced, the resulting amount to the agent may surprise you. Then that agent has to remember to withhold money for taxes and social security. They make a living just like everyone else; the difference is the check doesn’t come every two weeks.

3. The typical commission is 6 percent, right?

Speaking of which, I recently had someone ask me this exact question.

The buyer wanted to purchase one of my listings and assumed that I would be receiving the “standard 6 percent,” to which I explained that all commissions are negotiable and vary according to a variety of factors with type of property, price and such in my market.

Every market is different.

4. An agent’s gas, mileage and other transportation expenses are reimbursed 

If only real estate brokerages had a “transportation fund” to reimburse agents for these things.

The 25 trips to show a buyer homes every time a new one hit the market — only for the buyer to wait and see if something better comes along.

The three days spent driving all over town with a relocating buyer who decides not end up moving to that city.

The umpteen trips to a listing, prepping for showings, and continually checking on the vacant property; or meeting vendors contractors, photographers, etc. — none of it is paid for by anyone but the agent.

Driving into new construction neighborhoods that are rife with tire-puncturing nails — the gas, tolls, vehicle wear-and-tear and maintenance — it all adds up, and it’s all on the agent.

5. Marketing expenses aren’t the agent’s responsibility

Speaking of things the public thinks a brokerage pays for on behalf of an agent — don’t forget the marketing expenses!

Think about the several thousand dollars for video production, 3-D tours, digital marketing campaigns, specialty websites, broker open house events, the local symphony quartet playing on a red carpet greeting prospective buyers — not to mention the design and printing of brochures and the like.

Yep, this marketing is brought to you by — your neighborhood friendly real estate agent (sorry no corporate sponsor was available), who didn’t ask the seller to contribute one dime, even after agreeing to discount commission to make the seller happy.

And when the seller doesn’t follow the agent’s advice, won’t work with an offer that was received because it was “too low” and ultimately decides to pull the house off the market?

Oh well.

6. A home passes or fails inspection

An inspection is meant to assess the condition of a home. An inspector doesn’t “pass” or “fail” a home.

He or she will provide a report explaining all issues along with a summary of the age of key systems such as plumbing, electric, HVAC and the roof along with an estimate of economic life remaining on those systems.

7. Inspectors have to find something, don’t they?

Speaking of inspections, no one likes the idea of someone crawling around their home for a few hours with a camera and notepad making note of every crack, crevice and things that may not function to a certain standard.

Here’s the deal: inspectors are hired by the buyer to do an independent and objective evaluation of a property. The reality is they are going to find things — no property is perfect, even with brand new construction homes.

There is no secret conspiring happening behind the scenes. If the sellers are concerned about what might be found, the best way to level the playing field is to obtain their own pre-listing inspection before putting the home on the market.

8. Weekends bring out the most serious buyers

Contrary to popular belief, weekends don’t usually bring out the most serious and ready-to-buy buyers. Open houses and other open-to-the-community events tend to bring voyeurs, nosy neighbors and curiosity seekers interested in looking at decorating ideas and how other people live.

Just watch Zillow’s latest web series “Open House Obsessed” that follows people who have made a hobby out of going to open houses.

The most serious showings tend to happen during the week. In many markets, it is usually too late to wait until the weekend to look at any properties of interest.

9. Zillow says, therefore it is

When was the last time Zillow physically walked through a property, pulled relevant comparables, did specific adjustments and established an on-point range of value?

Zillow’s Zestimate gives a consumer a general idea of the value of a home — the company calls it a “starting point” — but by no means is it an exact valuation tool. Zillow can’t discern the difference between why homes on one street or in a particular area may be different value-wise versus those just two streets over.

It can’t tell the consumer why the last three sales sold for the prices they did and why a particular school is driving people to a specific neighborhood. Even Zillow’s CEO, Spencer Rascoff, sold his home for 40 percent less than the Zestimate showed in 2016!

10. It is better to price a home on the high side as the seller can always come down

This is one of the most common fallacies in real estate. Sellers want to protect their asking price so they think overpricing it is an effective defense mechanism against selling too low.

Newsflash: overpricing your home often leads to the home sitting and not receiving much interest. If a home is priced competitively from the beginning, the chances of attracting optimal traffic from the beginning greatly increases.

As a follow-up to this myth, sellers often say “well, a buyer can always make an offer,” but the problem is that when you’ve overpriced it, buyers may not look at the home in the first place, let alone put an offer in. You have to entice with the price.

11. When making an offer on a home, you need to start with a low offer

Just as sellers make a classic mistake of overpricing, buyers often make the mistake of wanting to start with a really low offer.

Although there is nothing wrong with negotiating, if the home is priced within range, an unrealistically low offer is only going to alienate the seller, and you won’t be taken seriously.

Don’t be surprised if you receive a very slight counter or no counter offer at all.

12. The longer a home is on the market, the more negotiable the deal

Not necessarily, and in fact, it may mean just the opposite. A home that lags on the market is likely sitting due to its asking price as well as its lot, layout, location or condition of the home.

An awkward layout or inferior location can also play a role. The seller may be unrealistic about their asking price or want the market to pay more than it is willing to bear.

13. Multiple price reductions mean the seller is desperate to sell

If a home has had multiple price reductions, that must mean the seller desperately needs to sell.

Price reductions are made to bring the property in line with current comparables, price it to be competitive or underprice it to help generate more traffic and interest.

Often when a seller has done several price reductions it means they are through with negotiation.

14. Multiple offers give the sellers an advantage

If a seller receives more than one offer and elects to simultaneously counteroffer all buyers, that increases their leverage and the likelihood of selling for top dollar.

Maybe but maybe not.

It can be easy to see dollar signs when there is more than one offer in hand from multiple buyers. Keep in mind that every buyer has a limit, and no one likes to be played.

Not every home is a must-have in every market, and there will always be another property that becomes available.

As a seller, if you play this card wrong, you could end up having the entire situation backfire and be forced to watch all the buyers walk away.

15. All agents are the same

Although the general process of buying or selling and the ensuing chain of events are similar, no two agents are the same, nor is their approach to real estate. The public often lumps all agents into the same bunch and considers them a commodity without really taking the time to study the differences in their approach, presentation and achievements.

As in every profession or organization, there are those who are committed to excellence, devote endless amounts of time and energy into working with buyers and sellers and are highly adept problem solvers. Others simply march to lower standards and do the bare minimum to get by.

Just as some attorneys and physicians are better than others, so are real estate agents. Some are more resourceful, responsive and creative.

Although a few photos and minimal listing description may be adequate in the eyes of one agent, another agent can’t imagine presenting a listing that wasn’t properly prepped for sale with staging, video, 3-D and a slick marketing campaign with professionally designed and produced collateral for digital and print.

In real estate, an agent can never assume, and the same goes for the public.

Cara Ameer is a broker associate and Realtor with Coldwell Banker Vanguard Realty in Ponte Vedra Beach, Florida. You can follow her on Facebook or Twitter.

Email Cara Ameer.

Come learn about tools available for marketing & working with Canadian buyers and sellers. This event is free but you MUST register in advance on the Pinellas Realtor Organization’s website.

Light refreshments & wine will be served. October 18th from 3-4:30 pm. Hope to see you there!

Oct Marketing Session-Canada

Ireland Commercial Property Sector Enjoys $1.5 Billion of Investment in 2017

 

According to JLL, over $1.5 billion of Irish commercial properties have traded so far in 2017. While this is lower than 2016, last year was an exceptional year.

Commercial News » Dublin Edition | By Michael Gerrity | October 4, 2017

In Q3, $623 million of investment transactions closed. The largest transaction in Q3 was the sale of a $71 million off-market office transaction in Dublin. The second largest was retail unit at 100-101 Grafton Street, which was sold by GLL and purchased by Irish Life for $59 million, and the third largest was the sale of 4-5 Harcourt Centre. The office building was sold by Clancourt and purchased by Ares for over $55 million.

Hannah Dwyer, Head of Research at JLL Ireland commented, “2017 continues to perform steadily, and total volumes of $1.53 billion are where we expected them to be at this stage in the year. As with most years, Q4 is likely to be the strongest quarter, with a number of assets on the market which are due to close in the next 3 months. This includes The Square in Tallaght ($274 million guide) and The Gibson Hotel in Dublin 1 ($102 million guide). We are still of the view that total volumes for 2017 are likely to achieve between $2.3 and $3 billion, assuming these large assets close in time for the end of the year.”

John Moran, CEO and Head of Investment said, “It is encouraging to see that Ireland’s investment market continues to perform. The supply of assets coming on to the market remains robust and the demand we are seeing from investors continues to surprise, with more core buyers from Europe in particular. Whilst they are becoming more selective in terms of what they are bidding on, we are still seeing interest, particularly for prime assets, or those that have an asset management or refurbishment play. Offices continue to be the focus for some investors, whilst others are branching into ‘alternatives’ in search of value. In particular, this includes the Private Rented Sector for Residential, for which we dealing with a number of active enquiries from clients. Both new and existing domestic and overseas investors continue to be active”.

Commercial News » Dublin Edition | By Michael Gerrity |

Please join the Pinellas International Council as our distinguished speaker, Marc Weintraub, discusses how to help your international clients improve their visitor or immigration status by investing in the USA. This presentation includes the various programs available. It is your opportunity to learn about recent developments in this fast-changing area that intersect real estate, business, law and immigration policy.

Thursday, October 26, 2017 from 9-12 noon

Pinellas Realtors Organization, 4590 Ulmerton Road, Clearwater, Florida.

Please take note, you must register prior on the PRO website. Hope to see you there!

Oct 26, 2017

Capture

PROFARM Neighborhood Advocates
Remodeling ROI (September 2017)

Whether you’re thinking about modernizing a room in your home or rehabbing an entire house, you’ll want to make sure the money you invest in the project has a positive effect on your home’s value. Before you start tearing up tile, ripping out old plaster or buying that “handyman’s special” you’ve had your eye on, consider consulting a professional real estate appraiser about the economics of your proposed project.

You may receive good advice on questions such as:

  • Is the improvement feasible and marketable?
  • Are neighborhood trends pointing to an upward cycle?
  • How to go about it

When it comes to improving your home, don’t count on a dollar-for-dollar return on every improvement. For example, real estate appraisers have found that remodeling a kitchen or bathroom or adding a room may bring the greatest return on a homeowner’s investment. Some custom installations can actually detract from value, which appraisers call “overimprovements.”

“The latest research shows that home improvements with a relatively low cost are most likely to generate a positive cost-to-value ratio,” says Appraisal Institute President Jim Amorin. “Spending big dollars on major renovations doesn’t necessarily equate to a dollar-for-dollar return. In short: cost doesn’t necessarily equal value.”

Amorin encouraged homeowners contemplating renovation projects to compare the planned improvement to what’s standard in the community. “Projects that move a home well beyond community norms are typically not worth the cost when the owner sells the property,” he says.

Make sure essential repairs are completed before you start improving — a posh sauna won’t make up for a leaky roof. In fact, simple and relatively inexpensive repairs such as plastering and painting could earn a better return on your investment than some major improvement projects. Many buyers can’t overlook tacky paint colors, old or dirty carpet and ugly kitchen cabinets. Start with freshening up what you already have before adding new features to your home.

When deciding what to improve first, take a look around and find out what other homebuyers want. That way, you’ll select those improvements for which the market is willing to pay. Beware of overimproving.

If you do it yourself, do it right. Keep your improvements consistent with the quality of your home and the character of the neighborhood. If you decide that you can’t do the job yourself, be sure to contact a reputable contractor. Pay a fair price for improvements, not an inflated price.

Also be sure to consider energy-efficient improvements. While they may not save you a great deal of money now, as energy costs increase, so will your savings. Many buyers are looking for “green” and “smart” features in homes these days. Even something as simple as installing a smart thermostat can be an attractive bonus to buyers.

Most importantly, obtain any necessary permits to make sure your improvements are legal. Illegal improvements might not add value. In fact, work done without the necessary permits can create problems for you and the new buyer when it comes time to finalize a sales transaction.

I would be happy to discuss ideas and a strategy with you that would be appealing to buyers. Let me know how I can assist you! Thank you.

AnnalisaWeller1@gmail.com, 727-804-6566

 

Sources:

The Appraisal Institute, “Remodeling & Rehabbing: Some Valuable Hints for Homeowners,” © 2014 (http://www.appraisalinstitute.org/assets/1/7/remodeling_rehabbing_web.pdf)

Florida Realtors News, “Top return on investment? Smaller remodeling projects,” April 20, 2017 (http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=351064)

REALTOR Magazine, “Ugly Home Features Buyers Can’t Overlook, “ August 3, 2017

(http://realtormag.realtor.org/daily-news/2017/08/03/ugly-home-features-buyers-cant-overlook)

© 2017 Pinellas Realtor® Organization

Well, except for the grandkids’ juice boxes, Ernesto García’s baby cokes and my Monty Python’s Holy Ale. Added 3 lemons from my tree just for color.

My heart, hopes, prayers & love go out to Mexico and the many island countries including Barbuda, Puerto Rico, St John, St Thomas, St Croix, Cuba, Dominican Republic, the British Virgin Islands & others that have been hit so terribly by the hurricanes & earthquake.

 

Annalisa Weller, Realtor®, Certified International Property Specialist

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 333 other followers

List of Categories

Monthly archive of my posts

RSS PROView-Pinellas Realtor Organization

  • Volunteer for IRONKIDS & Iron Girl Event April 8 & 9 March 28, 2017
      Pinellas REALTOR® Organization members help build vibrant communities where IRONKIDS, Iron Girls and their families live, work and play. We are proud to have signed on as the title sponsor of the 2017 IRONKIDS® Clearwater Fun Run. The Pinellas REALTOR® Organization IRONKIDS Clearwater Fun Run is scheduled for Saturday, April 8, 2017. It occurs in conjuncti […]
    PROView
  • WE NEED HELP to cut the business rent tax March 27, 2017
    This Legislative Session, members of the Florida Legislature have a chance to hear several bills relating to a reduction in the business rent tax. Florida charges a 6% sales tax on business rent, creating a financial burden for any business that leases space — from the local diner and hair salon to large retail stores. […]
    PROView
  • A Home Finance Guide For Senior Citizens March 27, 2017
    By Jim Vogel, elderaction.org The time has finally come to start the next chapter of your life. In this chapter, everything is all about you. What do you want in your new home? What expectations do you have? What kind of experience do you want? All of these questions, however, pale in comparison to the […]
    PROView
  • SavvyCard has re-launched – members now get the Pro version for FREE March 20, 2017
    We’re pleased to announce the launch of the SavvyCard® for Agents Pro for all our REALTOR® members! If you already use SavvyCard, you’re going to be excited by the new features! If you’ve never used SavvyCard before, now is a VERY good time to start! Increase Revenue by 20% or More As a member of […]
    PROView
  • Roger Enzor, 1987 President of Florida Realtors passed away March 17, 2017
    FROM FLORIDA REALTORS: On behalf of President Maria Wells, CEO Bill Martin and everyone here at Florida Realtors we are saddened to report the passing of Mr. Roger Enzor, 1987 President of Florida Realtors.  He passed Tuesday night after a long illness.  As a successful broker, Realtor volunteer and past Chairman of the Real Estate […]
    PROView

Visit Me at Active Rain