South Florida, Coral Springs & Parkland Real Estate FAQs

SELLING HOME QUESTIONS:

How do I choose the right Realtor to sell my home?

Many Realtors will tell you what you want to hear just to get your listing. Unfortunately, that can lead to frustration when the promised results don’t follow. We believe our job is to tell you what you need to hear, even when it may not be what you want to hear, because our goal is to help you successfully sell your property. An experienced real estate team has encountered many of the problems that can derail a transaction. That experience allows us to anticipate potential problems before they happen and work to keep your sale moving toward closing.

How do I know what my home is worth?
An experienced agent, such as us use a variety of systems to determine your properties’ price value for the current market. We compare features and benefits to previous sales in the neighborhood, and if those are not available, then we branch out further to find homes of similar style age and square footage and what they have been selling for. Pricing is typically based on previous sales numbers. The only time this will change is when it’s a rapidly appreciating marketplace. We monitor these numbers constantly because the market is shifting all the time during your transaction.

What should I do before putting my home on the market?

Consulting a professional realtor is your best bet in getting your home ready for sale. Some of the most valuable things you can do cost more in effort than they do in dollars, such as decluttering, cleaning, curb appeal, minor repairs and presentation.

Should I have a pre-inspection prior to putting my home on the market?
A pre-home inspection can be very beneficial. This way you know what to anticipate after you receive an offer. Some of the items might be minor that you would be able to address in advance. It also uncovers anything that could be considered a deal breaker.

How will you market my home?
When we meet, we will discuss the marketing strategy that best suits your home. This may include professional photography, extensive online exposure, social media marketing, our established database, and agent to agent marketing utilizing relationships we have built over decades. Our focus is on positioning your property to attract the right buyers and achieve the best possible results.

Should I renovate before selling?
This is where our partnership with you is valuable. We will coach you on the improvements that are worth investing in before your sale and the things you can skip without breaking the bank. Our recommendations focus on improvements that can help your home sell, improve its marketability, or add enough value to justify the expense. The goal is not to spend a small fortune preparing your home for sale. It is to spend wisely where it can make a difference.

Which improvements give me the best return when selling my home?
The easiest investments are fresh coat of paint, possibly pressure cleaning the grout in your tile to remove the checkerboard pattern. Less is more! If you’re not taking it with you, get rid of it before you put your home up for sale.

When is the best time to sell a home in South Florida?
South Florida has a much more year-round real estate market than many parts of the country. We have observed some temporary slowdowns around the beginning and end of the school year when families are focused elsewhere, when major Christian and Jewish holidays overlap, and during significant hurricane threats or storms.

What mistakes do homeowners make when selling?
The biggest mistake is not pricing the property correctly from the beginning. Overpricing can reduce showing activity, increase days on market and eventually force a seller to chase the market downward. Other costly mistakes include failing to properly prepare the home for sale, making unnecessary improvements, ignoring buyer feedback and choosing an offer based solely on price rather than the strength of the entire offer.

How do you determine the right listing price for my home?
There is the price you want, the price you need, and the price the market will support. Our job is to help you understand the difference. We analyze comparable sales, current competition, your home’s condition, features and benefits, and current market conditions to develop a pricing strategy designed to achieve your goals without chasing the market.

How long does it typically take to sell a home in Coral Springs or Parkland?
The time it takes to sell depends on market conditions and how the home’s price compares with its features, benefits and competition. In our experience, the first 10 showings can tell us a great deal about whether the property is positioned correctly. We continually evaluate showing activity and buyer feedback and adjust our strategy when necessary.

What if my home doesn’t sell?
Everything sells if the price matches the features and benefits.

What makes one offer stronger than another besides price?
Price is only one part of an offer. We also evaluate whether the buyer is paying cash or financing, the strength of the buyer’s financing, escrow deposit, inspection terms, appraisal contingency, requested concessions, closing date and other contingencies. A strong offer is the one that provides the best combination of price, terms and likelihood of successfully closing.

Should I accept the highest offer on my home?
Everything in the offer must work for you. Not just the price, the financing, appraisal contingency, inspection terms, closing date, escrow deposit, concessions and the buyer’s financial strength all matter. We coach you through this process.

Is the first offer usually the best offer?
In our experience, the first offer is often one of the strongest. Sellers sometimes hesitate when an offer comes in quickly, thinking a better one must be coming. A serious buyer who has been watching the market may recognize the value of a new listing immediately. We evaluate every offer based on the market, the terms and the strength of the buyer before recommending how you should respond.

What happens when a home does not appraise at the contract price?
A low appraisal does not automatically mean the transaction is over. What happens next depends on the terms and contingencies in the contract. The buyer and seller may renegotiate the price, the buyer may contribute additional cash, the seller may adjust the price, or the parties may find another solution. Depending on the contract, the buyer may also have the right to cancel. Our first goal is to determine whether there is a reasonable solution that keeps the transaction together.

Is it better to price a home high and negotiate or price it at market value?
Contrary to popular belief, pricing a home high just to leave room for negotiation can work against a seller. Buyers today have access to extensive market information and generally recognize when a property is overpriced. In some situations, strategically pricing at or even slightly below market value can create competition among buyers. Overpricing can reduce activity and eventually leave the seller chasing the market downward. Our goal is to determine the pricing strategy that gives your particular property the strongest position in the current market.

Can I close on the weekend?
Closing is typically done during the week. On a very rare occasion, arrangements can be made to close on a weekend, but the process would not be completed until normal business hours.

Why does an experienced local Realtor matter when buying or selling a home?
Working with an experienced Realtor is a priority because of all the contacts that they’ve had. A typical realtor sells six homes a year and an experienced Realtor does 35 or more a year. The difference is experience you become a very fast learner the more times you win and the more times you fail and one thing I know for sure about my team I do not like to fail so we learned from our lessons and never let it happen again. This is where experience is valuable working with a real estate professional.

BUYING HOME QUESTIONS:

How much money do I really need to buy a home?
This varies depending on the type of property, your financing and the monthly payment you are comfortable with. Some loan programs allow qualified buyers to purchase with as little as 3% to 3.5% down. In addition to your down payment, you will need to plan for closing costs, inspections, insurance and other expenses associated with the purchase. Generally, the less you put down, the higher your monthly mortgage payment will be. A good lender can help you determine which financing option best fits your financial situation and comfort level.

Why should I get preapproved before looking at homes?
A Preapproval protects your time. There is no sense in looking at properties that will not comfortably fit your budget. It establishes your purchasing power and allows you to act immediately when the right property appears. In a fast-paced market, being preapproved can also make your offer a more viable contender.

Do I have to go with the lender you suggest?
Absolutely not. Buyers are always free to choose their lender. We make recommendations based on relationships built through repeated transactions with lenders who have earned our trust through effective communication, responsiveness and their ability to meet contractual deadlines.

How long does it take to look at houses?
If you’re looking within the same general area, you can typically budget about an hour for four homes. If the homes are spread across multiple cities or communities, we allow additional time for travel between properties, gated entrances and the time you need to properly evaluate each home.

What if a home needs a roof and I can’t afford it?
A home needing a roof does not necessarily mean you have to walk away. Depending on the circumstances, the roof may become part of the negotiations with the seller. We can explore possible solutions involving the price, replacement of the roof or other negotiated options that may allow you to move forward with the purchase.

How will I know what to offer on a home that I am interested in?
We guide you through this process by reviewing recent sales in the neighborhood and nearby homes with similar features, along with the property’s condition, time on the market and current market conditions. Ultimately, the decision is yours, but we make sure you have the information you need to make an informed and competitive offer.

Can I buy a new home before selling the home I currently own?
Yes. This is where the experience of a professional Realtor can be especially valuable. Coordinating the sale of one property with the purchase of another requires careful timing and communication among numerous parties involved in both transactions. We help coordinate those moving parts so your sale and purchase work together as smoothly as possible.

What should buyers know about HOA and community fees in Coral Springs and Parkland?
HOA fees vary considerably from one community to another depending on the amenities and services provided. A community with a clubhouse, recreational facilities and a manned gate may have higher fees than one with fewer amenities or electronic gate access. Buyers should also understand the community’s rules and restrictions, what the HOA fee includes, and whether there are any additional fees or assessments. We help you understand these differences before you purchase.

What should I know about insurance, roofs and hurricane protection when buying a South Florida home?
Insurance costs can vary considerably based on the home’s age, roof age and type, roof shape, hurricane protection and other construction features. For example, a hip roof may be viewed differently by an insurance company than a gable roof because of how each performs under wind loads. Impact windows, shutters and other wind mitigation features may also affect insurance costs. We encourage buyers to investigate insurance costs and insurability early in the purchase process so there are no surprises later.

Can I close on the weekend?
Closings are typically completed during normal business days. In rare circumstances, arrangements may be made to sign closing documents on a weekend, but the transaction may not be completed until the necessary parties, lenders and financial institutions reopen during normal business hours.

Why does an experienced local Realtor matter when buying or selling a home?
Experience comes from handling transactions successfully, encountering problems and learning how to prevent those problems from happening again. After decades in real estate, we have learned to recognize potential issues before they become larger problems and know how to navigate the unexpected when it happens. We have also built long-standing relationships with professionals throughout the industry who can help keep a transaction moving. Our team does not like to fail, so we learn from every transaction and use that experience to protect our clients and help them reach the closing table.

Can I wait too long to make an offer?
It’s interesting that Murphy lives in the real estate business. A property can sit on the market for months, but once you decide you are interested, suddenly someone else is interested too. Waiting too long to decide can cost you the property. Other mistakes include focusing only on the purchase price without considering insurance, HOA fees and other ownership costs, skipping important inspections, or making major financial changes before closing. We help you look at the entire purchase so you can make an informed decision.

Do I need flood insurance in Coral Springs or Parkland?
Flood zones are determined by FEMA, and a property does not have to be located on or near water to be in a designated flood hazard area. When you find a home you are considering, we will help you identify its flood zone so you can determine whether flood insurance will be required by your lender. Even when it is not required, flood insurance may be worth considering because a typical homeowners insurance policy generally does not cover flood damage.

How do homeowners’ insurance costs affect what I can afford?
In Florida homeowners’ insurance is sometimes more than the mortgage. Depending on the features in the home, such as how the roof is tied down the hurricane protection, the age of windows and things like that, the insurance rate will vary.

Should I sell my current home before buying my next one?
Not necessarily. We are very good at keeping all the balls in the air and coordinating the many parties involved in both transactions. Careful planning and communication can help coordinate the timing of your sale and your new purchase so both transactions move toward closing as smoothly as possible.

How do I choose the right neighborhood in Coral Springs or Parkland?
The right neighborhood depends on your budget, lifestyle and the features that are important to you. Our experience is especially valuable in differentiating between communities because we worked for the developers of Coral Springs and Parkland and were involved with many of these neighborhoods from their early development. We can help you compare communities based on price range, location, lot sizes, amenities, HOA requirements and the features that matter most to you.

What should I know about buying a home with an HOA?
Buying in an HOA community has advantages and disadvantages. An HOA can help maintain community standards and a consistent appearance and may provide amenities and services for its residents. In return, homeowners agree to follow the association’s rules and restrictions and pay the required fees. These may affect pets, rentals, vehicles, exterior changes and other uses of your property. Before you purchase, we help you understand the fees, what they include and the rules that may affect how you plan to use your home.

What is a capital contribution fee?
Some HOA and condominium communities require a one time capital contribution fee when you purchase a property. This money is paid to the association and generally contributes to its reserves or other community needs. The amount varies considerably from one community to another, so we identify these fees for you when evaluating the total cost of purchasing a home.

How much are closing costs when buying a home in Florida?
Buyer’s closing costs vary depending on whether you are paying cash or financing your purchase. With financing, costs may include lender fees, appraisal, mortgage related taxes, prepaid interest, homeowners insurance and escrow deposits for taxes and insurance. Other expenses may include inspections, HOA or condominium fees and other charges specific to the transaction. We review these costs with you so you understand what to expect before closing.

What should I know about insurance, roofs and hurricane protection?
When you purchase a home, your inspection will help identify the age and type of roof and the hurricane protection the home includes. Roof characteristics, impact windows, shutters and other wind mitigation features can affect the cost of homeowners insurance. We encourage buyers to obtain an insurance quote early in the process so you understand both the cost and insurability of the home before moving forward.

Which Coral Springs communities are gated?
Coral Springs has numerous gated communities, including communities within Wyndham Lakes, Heron Bay and Eagle Trace, as well as Maplewood Isles, Lenox Isles, Mariners Cove, The Isles East, The Isles West & East, Viscaya, Grand Reserve, Kensington Green, Sanctuary at Kensington, Pine Ridge South and Hidden Hammocks Estates.

Several of the larger communities contain multiple gated neighborhoods within them. Contact us and we can help you identify the gated communities that best match your price range, preferred home style and other priorities.

Which Parkland communities are gated?
Parkland offers numerous gated communities, including Watercrest, Parkland Bay, Parkland Royale, Cascata, MiraLago, Town Parc at MiraLago, Heron Bay, Parkland Reserve, Parkland Estates, Cypress Cay, Cypress Head, Grand Cypress Estates, Parkland Place, Parkland Terrace, Mayfair, Ternbridge, Whittier Oaks, Terramar, Tall Pines, Four Seasons, Parkland Golf & Country Club, Meadow Run, Fox Ridge and Waters Edge.

Some of these communities contain multiple gated neighborhoods within them. We can help you compare the differences in home styles, price ranges, lot sizes, amenities, fees and gate access.

Which Coral Springs neighborhoods offer acre sized lots?
If you are looking for more land, some of the Coral Springs communities known for larger, acre sized lots include Whispering Woods, Running Brook Hills and The Hills. Lot sizes vary within each community, so we can help identify the properties that meet your specific lot size requirements.

Which Parkland neighborhoods offer acre sized lots?
Parkland offers several communities where buyers can find acre sized and larger properties, including Pine Tree Estates, Cypress Head, BBB Ranches and The Ranches. Lot sizes vary considerably, so if having an acre or more is important to you, we can focus your search specifically on properties that meet that requirement.

What is the difference between living in Coral Springs and Parkland?
One of the biggest differences is the makeup of the two cities. Coral Springs is approximately 24 square miles with a substantial business and commercial infrastructure in addition to its residential neighborhoods. Parkland is approximately 12 square miles and is much more predominantly residential, with a smaller commercial base. Both offer very different types of neighborhoods, so which city works best for you often comes down to the lifestyle, type of home and community you prefer.

What are the best neighborhoods in Coral Springs and Parkland for different lifestyles and budgets?
There isn’t one neighborhood that is best for everyone. When we meet, we will discuss your budget, the type of home you are looking for and the features that are important to you. From there, we can identify the Coral Springs and Parkland neighborhoods that best fit your needs.

How should I respond when I’m in someone’s home?
Always assume there may be cameras or recording devices in the home. Comments about how much you love the property or what you might be willing to pay could potentially affect your negotiating position. Save those conversations until we are outside the property. If the seller is home, simply thank them for allowing you to see their home.

What inspections should I have when buying a home in South Florida?
A general home inspection evaluates the condition and operation of the home’s major systems and components and can identify existing problems as well as items that may be approaching the end of their useful life. Depending on the property, additional inspections may be appropriate, including a wind mitigation inspection, four-point inspection, roof, pool, mold or other specialized inspections. Keep in mind that an inspection reflects the condition of the home on the day it is performed. Homes are mechanical, and something that is working during the inspection can still fail later. We help you determine which inspections are appropriate for the property you are considering.

How much should I offer below or above the asking price?
There is no set percentage that works for every property. Your offer should take into consideration recent comparable sales, the condition of the home, how long it has been on the market, current market conditions and whether there are competing buyers. In a buyer’s market there may be more room to negotiate, while in a seller’s market a stronger offer may be necessary to compete. We provide you with the market information you need to determine an offer that gives you the best opportunity for a successful purchase.

Which neighborhoods have no HOA in Coral Springs?
Coral Springs offers several neighborhoods without a traditional homeowners association. These include North Springs, Cypress Glen, Cypress Run, Cypress Lakes, Maplewood, Maplewood Addition, Ramblewood, Alta Vista, Oakwood, Coral Springs Country Club, Broken Woods Estates, Shadow Wood, Westchester, Lakes of Coral Springs, Running Brook Hills, The Clusters, Coral Springs Subdivision I, Coral Springs University, The Windings, Glenwood, Brentwood Village, Countrywood Estates, Coral Springs Village, Forest Hills, Deer Run Springs, Royal Palm Pointe, The Crossings, Eastridge Village and The Dells. HOA status should always be verified for the specific property you are considering, as requirements can vary within an area or change over time.

Which neighborhoods have no HOA in Parkland?
If you are looking for a Parkland home without a traditional homeowner’s association, Pine Tree Estates and BBB Ranches are two of the primary areas to consider. These communities are especially attractive to buyers looking for larger properties and fewer association restrictions. City codes and zoning regulations still apply even when there is no HOA.

Have a question that you do not see here, text or call us at 954-695-7653!