A 3/2 Single-Family Home In Davie FOR SALE For $693,000!

A 3/2 single-family home in Davie FOR SALE for $693,000!  This HUGE home sits on a LARGE fenced private lot, with 2 driveways and NO HOA!

All of the big-ticket items are done here!!  A new roof in 2018, a new fence in 2018, a new A/C in 2023, and impact windows in 2023.  There is an impact garage door and new screens.  The bright, open kitchen with plenty of cabinets has a new refrigerator, and a BRAND NEW stove!  The cozy screened front porch leads into a large split-floor plan layout, with tons of natural lighting.  All of the flooring in this home is tile, and there is a handy large utility room off of the garage.  Both of the updated bathrooms have cabana doors that lead to the covered and screened patio or the large yard that is big enough for a boat and even an RV.

Kitchen Bathroom in 3/2 single-family home in Davie FOR SALE Yard of 3/2 single-family home in Davie FOR SALE

Great Broward County Schools!

The Broward County schools that children living in this Davie home would attend are:

Great amenities close by this 3/2 single-family home in Davie that’s FOR SALE for $693,000!

This home is close to plenty of dining and shopping options at The Tower Shops that is just a short drive away. In addition to the beautiful Tree Tops Park that is nearby, Bamford Sports Complex, and the Davie Pine Island Aquatic Center are right around the corner.  If golf is your game, be sure to check out the Davie Golf Club, and Grande Oaks Golf Club.

Would you would like more information on this beautiful home?  If so, contact Teri Arbogast at (954) 242-8030.  Teri can also help you find homes for sale that are similar to this beautiful 3/2 single-family home in Davie that is FOR SALE for $693,000

If you have a home that you would like to sell, contact Teri Arbogast, who will be able to help you find the value of your Davie home and price it just right!

Whether you are buying or selling a home, Teri and her team promise to work hard for you!

 

A 3/2 single family home on lake SELL$ for $675,000!  This home is in the BEST friendly little neighborhood in Davie, New Providence East!   This home has soaring ceilings and a fabulous kitchen with a handy kitchen island.  The open and airy floor plan of this home has beautiful views of the sparkling lake and HUGE back yard.

 

The Broward County schools that the children living in New Providence East will attend are:  Flamingo Elementary School, Indian Ridge Middle School and Western High School.

The New Providence East community is located in West Davie and is close to great dining & shopping options.  Some of the great options are Sawgrass Mills Mall, Ikea, CJ Blacks Restaurant & Bar and Vignetos Italian restaurant in Weston/Sunrise.  The Amerant Bank Arena and the Davie Golf Club are both close by to catch a Florida Panther game or play a round of golf.

If you are interested in a home similar to this 3/2 single family home on lake that SOLD for $675,000 or if you have a home that you would like to sell in the Broward County area, contact Teri Arbogast.  Teri will be able to help you find the value of your home and price it just right!

Whether you are looking to buy or sell a home Teri Arbogast and her team promise to work hard for you!

Jenny Lake - Grand Teton

Jenny Lake in Grand Teton National Park

Christmas travel destinations have surprisingly become more popular.  If are considering getting away from sunny South Florida this holiday season, you must check out the beautiful destinations that Travel and Leisure Magazine has put together.

Our Favorite Travel Destinations

There are so many places to visit throughout December in our great state of Florida or outside of it.  If you decide to leave the our sunshine state of Florida, be sure to leave us a comment on where you went and the experience you had!

Happy Holidays from Teri Arbogast and her team!

Veterans Day Davie Florida

 

 

 

 

 

 

On Saturday, November 11, 2023, the Town of Davie will be celebrating all the veterans who have sacrificed and served our country at the Veterans Day Ceremony at Veterans Park, located at 5750 SW 39th Street, in Davie.  The Town of Davie Veterans Day Celebration will honor all military personnel who served in the U.S. Armed Forces and will include guest speakers, an honor guard, and an Armed Forces medley.  The ceremony is free and will run from 10 a.m. to 12 p.m.  After the ceremony, a light lunch will be served.

There is parking at Veterans Park in Davie but it is limited. There will be a shuttle bus to The Town of Davie Veterans Day Celebration from a satellite parking lot located at the Bergeron Rodeo Grounds located at 4201 Rodeo Way.  The shuttle bus will also bring you back to the Bergeron Rodeo Grounds parking lot.

The Teri Arbogast Team would like to thank the veterans who have served and are serving our great country.

If you own one of the Davie homes for sale, you’re probably feeling good that prices are inching up and sales prices are staying close to asking prices. If you would like to buy a home in Davie or elsewhere in Broward County, you should also be feeling good because mortgage rates keep hitting all-time lows in 2020.

Mortgage Rates Dropped Early in 2019

The COVID-19 pandemic hurt a lot of people and businesses, but it also had a big impact on interest rates. If you look at this chart, you’ll see that according to Freddie Mac, interest rates started to fall right around when COVID-19 started to make an impact in the U.S.

On September 10, 2020, the rate for a 30-year fixed mortgage was 2.86%. If you talk to mortgage lenders, they’ll probably tell you that they never thought they’d be quoting rates that low. Keep in mind that not everyone will get a rate reported by organizations like Freddie Mac. You’d need excellent credit and a 20% down payment to get the lowest rate offered on any given day.

What Difference Does a Point Make?

A 1% difference in the interest rate does make a difference. For example, if you financed $200,000 on a 30-year fixed mortgage, at 3.5%, your monthly payment would be $898.09. At 4.5%, your payment would go up about $115 per month to $1013.37.

The big difference comes in how much interest you’d pay over the life of the loan. At 3.5%, you’d pay $123,312 and at 4.5%, you’d pay $164,814 in interest over the life of the loan. It’s true that the majority of people don’t live in one house for 30 years. But, if you finance all the homes you purchase at the same or a higher interest rate, you still end up paying at least that higher interest over 30 years.

If your existing mortgage interest rate is high, this might be an excellent time to refinance. For example, if you purchased your home in November 2018, for example, your mortgage rate was more like 5%.

Where are Mortgage Rates Going?

Admittedly, we’re in a unique economic situation. And, in any economy, forecasting what will happen to interest rates is more of an art than a science. Here are some things to consider.

Down Below Zero?

You may think that the best news is that interest rates are heading toward 0% or even negative interest. Some countries have seen negative interest rates, but there are unintended consequences.

It would be exciting if your mortgage had a negative interest rate. That would mean that over the life of the loan, you’d end up paying less than what you borrowed. The same would be true for your car loan and any other loan you get from a bank. But, typically, a country would only use negative interest rates as a last ditch, desperate measure.

Mortgage Rate ChangesThink about the effect of negative interest rates from the savings side of the equation. Rather than interest-bearing accounts, banks would have interest-charging accounts. That means you’d need to pay the bank to hold your money, which isn’t something any of us are accustomed to. The only way you could earn money on your bank funds would be to take out a loan. It sounds like we’d fall down the rabbit hole where everything is the opposite of what it should be!

A negative interest rate strategy could backfire. For example, if banks must pay borrowers for the privilege of giving them a mortgage, the odds are banks will be less likely to give people mortgages, or any type of loan. That could have a devastating effect on our economy. And, rather than paying the bank to hold their money, some people may go back to hoarding their cash under the mattress, which would remove assets from the economy and further stifle lending and economic growth.

Stay Relatively Steady?

This seems the more likely scenario. Of the experts at Bankrate, 9% predict rates will rise, 91% predict rates will stay steady, and no expert thought rates would fall.

The Home Buying Institute also predicts that interest rates would stay low through the first half of 2021. But, keep in mind that all forecasts are just educated guesses.

If you’re thinking of refinancing, you should know that Fannie Mae and Freddie Mac announced that they will apply a .5% fee to most refinances, and experts say that in October, lenders will begin to raise refinance rates to account for the fee.

It’s a crazy time for the country, real estate, and interest rates, but if you work with professional Davie Florida Realtors like those at the Teri Arbogast Team, you’ll get the advice that will help you make informed decisions about your next real estate transaction.

Whether you’re selling or buying in Davie Florida or other County locations, we are ready to help. Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’re very proud of our five-star ratings on Google, Zillow, and other real estate review websites. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

Teri Arbogast Team Davie FL

 

If you liked the Broward County real estate stats in June 2020, you’ll be even happier with what happened in July. The real estate indicators in July 2020 even beat what was happening in the market a year ago.

The number of CLOSED SALES in July 2020 was 1,646, an increase of .7% from last year at this time, and up from 1,313 in June 2020.

The MEDIAN SALES PRICE increased. In July 2020, it was $400,000, which is a 5.3% increase over July last year, and up from last month, when the median sales price was $390,000. The AVERAGE SALES PRICE was $511,102, which is a 7.6% increase over July 2019. It even shows an increase from the $498,158 average sales price in June of this year.

The MEDIAN PERCENT OF THE ORIGINAL LIST PRICE received held strong yet again in July at 96.9%. That’s higher than in June when it was 96.2%, and .9% higher than it was in July 2019. That’s a result of sellers setting reasonable list prices, and the competition in the market preventing a lot of negotiating.

The real estate market in Broward County sped up in July 2020. The MEDIAN TIME TO CONTRACT dropped from 44 days in June to 32 days. That’s a drop of 25.6% from July 2019, also. Homes were almost flying off the shelves, undoubtedly due to some pent up demand.

The MEDIUM TIME TO SALE was also shorter at 73 days, down from 89 days in June. That’s a drop of 14.1% over July 2019. It’s still definitely a seller’s market, but that doesn’t mean you should put off buying.

The number of NEW LISTINGS in July 2020 was 1,957, which is an increase over June’s number of 1,772, and 3.9% higher than this time last year.

At the end of July 2020, there were 3,725 ACTIVE LISTINGS, representing a 3.1 MONTHS SUPPLY OF INVENTORY, which is less than last month, when we had a 3.4 months’ supply. If you’re thinking about selling, now would be a good time to jump into the market because there are a lot of buyers out there looking for a new place to call home.

Our active listings and inventory supply are much lower than this time last year when there were 5,562 active listings representing a 4.2 months’ supply. It’s likely that the COVID-19 pandemic has had an effect on those numbers.

Whether you’re selling or buying in Davie Florida or other County locations, you’ll want to work with professional Realtors in Davie who serve all of Broward County. Please consider the Teri Arbogast Real Estate Team. Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’re very proud of our five-star ratings on Google, Zillow, and other real estate review websites. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

Teri Arbogast Team

The June 2020 numbers are in, and it’s good news!

 

We Broward County Realtors have been working steadily, even during the COVID-19 pandemic, and many real estate indicators in June 2020 were better than Broward County real estate stats in May 2020.

The number of CLOSED SALES in June 2020 were 1,313. While that is down about 10% from last year, it’s up from the 814 sales in May 2020. And, we’ve moved from a 51% decrease between May 2019 and May 2020, to just a 10% drop in June for the same years.

The MEDIAN SALES PRICE has also increased. In June 2020, it was $390,000. That’s a 5.4% increase from June 2019, and about a 4.7% increase from May 2020. The AVERAGE SALES PRICE was $498,158, which is a 6.7% increase over June 2019 and it even shows an increase from the $468,646 average sales price in May 2020.

The MEDIAN PERCENT OF THE ORIGINAL LIST PRICE received held strong. In May 2020 it was 96.2%, and in June 2020 it was 96.5%. June’s figure was also a slight increase, 0.2%, over the same time last year.

The market was moving slower in Broward County in June than in May 2020. The MEDIAN TIME TO CONTRACT went up to 44 days. That’s 12.8% higher than in June 2019 and 33% higher than in May 2020. So, homes were on the market for a bit longer before a contract was signed.

The MEDIUM TIME TO SALE was also longer at 89 days, representing a 7.2% increase over June 2019 and a 17% increase over May 2020. Buyers are getting a bit of a breather because homes aren’t going under contract as quickly, but sellers are still happy since homes aren’t staying on the market for an extended period either.

Showing a new listing in June 2020The number of NEW LISTINGS in June 2020 was down from the same time last year. This June, 1,772 new listings came on the market, which is a 5.8% decrease from June 2019. But, with 1,755 new listings in May 2020, we’re up about 10% from last month, and that shows that there’s still a good amount of activity in the market.

At the end of June 2020, there were 4,089 ACTIVE LISTINGS, representing a 3.4 MONTHS SUPPLY OF INVENTORY, which is just about where we were last month, but fewer than we had in June of 2019.

Various indicators determine whether it’s a buyer’s or seller’s market in real estate. One of the easiest is to look at is how much inventory there is. A basic rule of thumb is that if there is less than 6 months’ supply of homes for sale, it’s a sellers’ market. Buyers will compete for a smaller selection of homes and sellers won’t negotiate much. We’re in a seller’s market right now. The inventory is low, and homes are selling very close to the asking price.

If there is more than 6 months’ supply of homes for sale, the buyers are more in control. They have their choice of a number of potential new homes, they’ll typically negotiate harder, and sellers will be more open to selling for less than their asking price.

If you are planning to buy a home in Broward County, check out our tips for buying in a sellers’ market. And, if you’re selling or buying in Davie or other County locations, please consider the Teri Arbogast Real Estate Team.

Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’re very proud of our five-star ratings on Google, Zillow, and other real estate review websites. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

 

Teri Arbogast Team Davie FL

Probably everyone knows something about how mortgages work. But, if you’re going to buy a home, you need to know more than “something.” It doesn’t’ matter if you’re a seasoned or first-time home buyer, the more you know about the terminology and the way mortgages function, the better off you’ll be. Test your knowledge here. You’ll probably learn something new.

What should you do before you start looking at houses for sale?

Get pre-approved for a mortgage loan. Your real estate agent can guide you to a proven lender depending on your financial situation. For example, if you’re just graduating from school and starting your career as a doctor, there are specialized mortgages for you. If your credit score isn’t the greatest, you’ll want to work with a lender who can provide you with the widest possible alternatives.

When you know how mortgages work, you’ll be glad you’re preapproved. Once you’re pre-approved, you’ll know exactly what prices of homes you should consider. In addition, a pre-approval gives you an advantage when you find a house you want to buy and negotiations start. One thing sellers try to avoid at all costs is accepting an offer and then having the deal fall through because the buyer couldn’t get financing.

Besides that, with a pre-approval, the seller knows that you’re a serious buyer, and that the odds of you not being able to get financing is very low.

Does a pre-approval guarantee you a loan?

No. The pre-approval is done at a specific point in time. If you do something that changes your financial situation before you close, you may not get the mortgage you wanted. For example, if you increase your debt by purchasing major items for your new home before you close, your financial situation changes. You will probably get a loan, but the terms may change and that will increase the monthly payment you had planned on.

Other issues may come up with the home you want to purchase. Most lenders have guidelines for the type of home they will finance, so be sure you follow those guidelines when looking at homes.

Is a Mortgage a Secured Loan?

Yes. A secured loan is simply a loan that uses some type of collateral to reduce the risk for the lender. Car loans are secured by the car, and mortgages are secured by the home. If a borrower defaults on a secured loan, the lender has the right to seize the collateral. For a car, the lender repossesses the car. For a home, the lender starts foreclosure proceedings.

Is it Necessary to Put 20% Down on a Home?

No. You need to know how mortgages work because there is a lot of misinformation floating around. There is a myth that all home buyers must put 20% down on a mortgage loan. It probably came about because you’ll get better terms if you put at least 20% down. Some lenders may require a 20% down payment, but there are others that don’t. Make sure you evaluate alternatives before deciding on your down payment on a house.

What is a Conventional Loan?

The government doesn’t back conventional loans.  The lender takes on all the risk, so conventional loans often require larger down payments and better credit scores.

What is a Government-Backed Loan?

It’s a mortgage loan backed by one of several governmental agencies. Examples include FHA, VA, and USDA. FHA loans offer lower down payment requirements, but you will need an insurance policy to protect FHA if you put down less than 20%. The cost for that insurance is added to your monthly mortgage payment. Most government-backed loans require that you keep the mortgage insurance in effect for the life of the loan. The only way to remove it is to refinance your loan.

What is PMI?

It stands for Private Mortgage Insurance (PMI). It’s a policy that a conventional mortgage lender may require if your down payment is less than 20%. It is similar to the insurance the FHA requires, but since no government agency is involved, lenders add the word “private” to the name. PMI is usually removed if the borrower has a good payment history when the mortgage reaches 78 or 80% of the value of the home.

For example, let’s say you purchased a $300,000 house and put 10% down. At that point, your loan amount of $290,000 is 90% of the value of the house. After making payments over time, you’ll reduce the amount you owe. When it reaches $240,000, your loan will be at 80% of the value of the home, and you can ask your lender to remove the PMI.

how mortgages workCan My Lender Sell My Mortgage?

Yes. To a lender, your mortgage loan is just another investment. They’re planning on making money from the interest you pay on your loan. But your lender can decide to sell your loan if they want more immediate cash. Often, banks will sell loans to get the capital they need to make new loans.

Another thing that can happen is that your lender chooses to have someone else service the loan. If that’s the case, the people you talk to about your loan and the place you send your loan payments to will change. It may seem as if your lender sold the loan, but they may have just hired someone else to process payments and do the other administrative work surrounding a mortgage loan.

Lenders sell mortgages and change servicers on a regular basis, so don’t be surprised if you got the loan from one lender and then work with other lenders or servicers during the life of the loan.

So, How Did You Do?

Keeping up with how mortgages work will help you make your home buying experience a good one. If you’re a first-time homebuyer, don’t miss our post on First-Time Homebuyer’s Mortgage Tips.

Do you have other questions about mortgages? If so, just leave questions in the comments section below and we’ll be glad to answer them for you.

If you want to hire Realtors in Broward County, please consider the Teri Arbogast Real Estate Team. Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’re very proud of our five-star ratings on Google, Zillow, and other real estate review websites. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

 

Since so many people start their home search on the internet, it’s critical that you work with real estate agents who are internet-savvy and who can make sure your home stands out. Very often, that includes having a professional photographer take photos to put online. When you prepare your house for photos, they work well as the biggest factor in motivating buyers to schedule a showing. To get the most from your exposure online, make sure you prepare your home to look its best.

If you’re adding your home to the list of Davie homes for sale, you can do many things to get your home ready to sell. You can check out our home seller guidelines to get more home selling tips. If you’re considering doing some renovations or updates, review what homebuyers really want before you make any major changes.

General Tips

When you prepare your house for photos, start with a general cleaning. Dust, vacuum, wash windows, and generally make sure your home sparkles. You may not realize it, but dust, smudges on the refrigerator, and water spots on a mirror in the bathroom will show in a photo.

Prepare Your House for PhotosBefore the photographer arrives, complete this checklist:

Outside Your Home

People looking at shots of your home’s exterior should be able to focus on the house itself. Prepar your house for photos by removing anything that will distract their attention.

Living Areas

You don’t want these rooms to look too sterile, but you want people to imagine themselves living there without a lot of clutter.

Kitchen

Again, you’re looking for a kitchen that looks organized and inviting.

Dining Room

After a thorough cleaning, you might want to set the dining room table with pretty dinnerware and napkins. At a minimum, add a centerpiece to give the room a homey feel. If you have a china cabinet, make sure everything visible is arranged neatly.

Prepare Your House for PhotosBedrooms

Make sure everyone is up and out of the house before the photographer arrives. That may sound silly, but there have been bedroom photos with a suspicious lump in the bed.

Bathrooms

Bathrooms are important rooms in any house, so make sure yours aren’t overwhelmed with bath accessories and toiletries.

Miscellaneous

After you’ve done whatever you can to prepare your house for photos, it’s best if you, your family, and your pets leave the house during a photo shoot. Let the photographer do the work in peace and quiet.

Think about anything in your home that you don’t want to be displayed on the internet and remove it from sight. For example, you may not want to advertise the original Van Gogh you have hanging in the living room. If your children have their names on their doors or in their rooms, consider removing them if they will show in the photos. If you want to see some examples of what makes listing photos look good, check out this article.

If you want to hire Realtors in Broward County, please consider the Teri Arbogast Real Estate Team. Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’re very proud of our five-star ratings on Google, Zillow, and other real estate review websites. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

 

Davie Real Estate Arbogast Team

You’ve probably seen ads for companies that want to give you a price for your home online and then buy it from you for cash.  You know, the We Buy Ugly Houses-type folks. iBuyers stopped buying homes when the COVID-19 pandemic hit the U.S. Now, however, they’re starting their operations back up. Is selling to an iBuyer a good strategy for you?

What is an iBuyer?

An iBuyer is a company that buys homes for cash and then sells them for a profit. They’re not all flippers. We Buy Ugly Houses will look at homes that need a lot of renovation, but many of the iBuyers, such as Zillow and Offerpad look for homes that need very little in the way of updates.

Typically, iBuyers use an Automated Valuation Model (AVM) to determine the price they will offer for your home. That’s why they don’t need to visit your home to give you a purchase offer. The Models use proprietary algorithms that take into account the value assigned by your tax assessor, sales history for your home, and an analysis of comparable properties.

The Models don’t account for the condition of the property. That’s why some iBuyers ask you for information about your home’s condition, photos, or virtual tours.

What You Need to Know About Working with an iBuyer

iBuyers are running a business and they must make sure that they can make a profit on every house they buy. But, if they make you an offer, you can sell your home in just a few days. Don’t expect to negotiate with an iBuyer. Usually they’ll give you their best offer.

1. You can sell your house very quickly

Typically, iBuyers can give you an offer in a matter of days. And, you can close very quickly after you’ve had a chance to review the offer. You don’t need to list your house, host showings, negotiate with buyers, or pay real estate agent commissions.

what is an iBuyer2. You will pay for convenience

It’s only reasonable that an iBuyer can’t offer you market value for your house. It would be impossible for the iBuyer to stay in business if they sold houses at the same price they paid for them.

According to a study conducted by Collateral Analytics, a typical cost to sell to an iBuyer runs around 13% to 15% of the house price, depending on which iBuyer a seller works with. iBuyers’ fees are usually lower than market value, and they often include a renovation budget, and fees to reimburse the iBuyer for risks and carrying costs. A study published by MarketWatch found a discount rate ranging from about 12% to 18% in a big market like Atlanta.

You can compare those discounts to the cost of real estate commissions, which are typically 6% of the sales price of a house. If your home needs repairs to renovations, you would pay for them yourself if you worked with a real estate agent. It’s impossible to know whether the estimate that an iBuyer rolls into their fees would be more or less than what you’d pay for the same work.

3. Your house may not be attractive to an iBuyer

Each iBuyer has their own definition of the type of home they will purchase. Some may be looking for houses priced in the middle of the market, others might shy away from a unique home, or one in an area with a lot of competition. Not every seller is going to get offers from iBuyers.

Should You Sell to an iBuyer?

iBuyers are lifesavers for people who need to move quickly. If you’re considering taking that approach, make sure to get multiple offers since each iBuyer works differently. Also, read the fine print carefully to find out if the iBuyer can change the offer during the process, if fees could change, etc.

Many sellers want top dollar when they sell. If you need to get top dollar for your existing home to help finance your new one, working with an iBuyer won’t help you meet that goal.

If you want to get some insight from Realtors in Broward County, please consider the Teri Arbogast Real Estate Team. Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’re very proud of our five-star ratings on Google, Zillow, and other real estate review websites. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

 

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