Just Sold 3120 Atocha Lane Indialantic Florida for $155,000
Kyle Hogan just sold 3120 Atocha Lane, Indialantic Florida this 2 bedroom 2 bathroom townhouse with just under 1300 square feet under air for $155,000. The town home was located in Ocean Side Village which is a gated community that is walking distance to the beach and offers a community pool, tennis basketball and many other amenities that are rare in beachside communities in this price range. The buyer for this listing purchased all cash.
Cash buyers are very common in today’s market since financing can sometimes be difficult to obtain, although my preferred lender, Joe Harris with Morgan Financial is definitely the person you need to speak to if you are considering purchasing a home.
Just Sold Highway A1A Melbourne Beach Key West Style Indian River Estate Home For $773,000
Kyle Hogan just sold this Key West Style Indian River waterfront estate home on Highway A1A Melbourne Beach Florida. The 3 bedroom 3 and half bathroom with over sized 4 car garage listing sold $773,000 and both the buyer and seller were very happy with the final price. This particular listing was a very unique home and required the right type of buyer since the home was built with 3 flights of stairs and no room for an elevator.
Here is the narrative from the listing information: The historic Indian River is the perfect setting for this custom built 3 story home, with solid poured concrete construction. The home was built on 1.4 acres, in the southern Melbourne Beach area. On your approach, the meandering driveway leads you to a circular driveway. Upon entering the double front doors, you will discover the beginning of the spacious floor plan. The 1st floor is made up of a 4 car deep garage, a full size 2 car garage, plus a hobby room or potential guest suite with a well finished bathroom. The kitchen, guest bedrooms and family/dining rooms are found on the 2nd floor. The top floor is primarily dedicated to the master suite, office/bonus room and laundry room. All appliances are included in the cook-friendly kitchen which feature granite countertops, breakfast bar and spectacular views of the river. Other amenities include plantation shutters, a security system, central vacuum and many double doors allowing access to the balconies that wrap almost the entire home, providing panoramic views of the river.
Just Sold – Lansing Island Drive Luxury Canal Front Home for $980,000
Kyle Hogan of Keller Williams Realty of Brevard just sold this luxury canal front home in the gated community of Lansing Island for $980,000. Lansing Island which is located in Indian Harbour Beach and Satellite Beach is one of the most exclusive neighborhoods in Brevard County and possibly the state of Florida.
This 3 bedroom 2 and half bathroom home is an elegant Mediterranean style construction and is located on the Grand Canal. From the moment you walk in the front entrance you are presented with the beautiful staircase and faux finishes. Gourmet kitchen with Granite Countertops, Thermador gas range, pot faucet, and huge walk in pantry. Designed for entertaining with open spaces, fantastic decks and outdoor summer kitchen. The large master bedroom on 2nd floor with huge screened porch and has some amazing views.
This purchase was unique in that the buyer used a Physicians/Doctor loan that offered the buyer a low down payment of 5% without any PMI or Private Mortgage Insurance. The Doctor Loan helps licensed medical physicians avoid the need for a large down payment, mortgage insurance or secondary financing. Some of the unique features of the Doctors Loan Program are:
- Available to licensed medical physicians, including those who are currently residents/interns
- Doctors out of residency/fellowship must have completed residency/fellowship within the last ten (10) years
- No mortgage insurance required.
- Available on purchase and refinance transactions.
- For residents and fellows up to 100% financing up to $417K (max loan amount for residents and fellows is $417K)
- If completed residency/fellowship within last 10 years then up to 100% financing for loan amounts up to $650K
- If completed residency/fellowship within last 10 years then up to 95% financing for loan amounts from $650,001 to $1,000,000
- If completed residency/fellowship within last 10 years then up to 89.99% financing for loan amounts from $1,000,001 to $1.5M
If you are interested in finding out more about the Doctors Loan Program, please contact Kyle Hogan for details.
How To Price A Home Correctly To Sell In Today’s Real Estate Market
The other day I was talking with another Realtor about one of the most important factors for marketing a property in the age of the internet; how to price a home to sell in today’s real estate market that will ensure the most online exposure possible; to consumers and to Realtors. This is a question which Realtors hear almost every day when meeting with potential sellers. Back to the conversation I had with my fellow Realtor. Our discussion took a totally different route than I expected. Let me explain.
The other Realtor suggested something that I had never really thought about, but seemed totally obvious after he explained his concept. He gave me an example of a hypothetical listing that had a comparable value of around $500,000. He then asked me, “what would you price this home for if you wanted to get the most online exposure?” My first reaction was simple and probably a common one for most real estate agents and sellers. Price the home at $499,900. He asked me, “why?” Again, feeling like I had the “right” response I said, “the basic principles of retail marketing dictates that people feel like they are getting a better deal when you have a list price of .99 cents compared to a list price of a $1“. I finished that sentence like I just slammed dunked the ball in a game of hoops. But hold on, the other Realtor didn’t see it that way. He asked, “Kyle, what if I said to you, I was working with a client that was looking for a home in a price range of $500,000 to $700,000. My client wouldn’t even know about your listing at $499,900 since you decided you would be happy to market your listing to consumers looking for homes under $500,000.”
At first, I couldn’t get my head around that statement. Suddenly a light bulb appeared over my head. I said, “Oh, I understand your point. My listing wouldn’t show up in a search for homes using your clients criteria, even though my home was priced at market value. It may have been the perfect house for his clients. They may have never known my listing was available just because I wanted someone to have a sense of getting a better deal by pricing the home $100 less than an even number like $500,000. I totally get it. Those even number increments are how people search for homes. People do online searches for homes in increments of $25,000, $50,000, $100,000, and so forth.”
All I could think about, was how many homes that I had priced incorrectly? How many times I let clients/sellers tell me to price their home just under a round number so people think “it’s a better deal”? How many opportunities have I missed? Just think about how, if you were a consumer or a Realtor looking on a real estate website or a MLS website, you select all your basic criteria for a home: 3-4 bedrooms, 2-3 bathrooms, $150,000 – $250,000, 2 car garage, etc. They use round number increments in their searches. Even increments. Those ranges are important. If I want to catch prospective buyers, I need to price homes at even numbers to ensure I get my listings seen by buyers and Realtors doing searches on both sides of the incremental ranges. If I have a home listed at $149,000 I totally miss the above search starting at $150,000. If I have a home listed at $150,000 my listing shows up on the above search starting at $150,000 as well as someone searching below $150,000.
So remember this lesson next time you are pricing a home. When a seller asks why you think he should list his home at let’s say $399,000 compared to $400,000, you now have the knowledge and information how to price a home correctly to sell in today’s real estate market.
Just Sold – Riverisde Drive Indialantic Luxury Riverfront Estate Home For $1,375,000.00
Kyle Hogan of Keller Williams Realty of Brevard just sold this luxury riverfront estate home on Riverside Drive in Indialantic Florida. The final sales price was $1,375,000.00. This palatial residence features 4 bedrooms, 5 bathrooms, 2 half baths, 4 car garage, under 5857 square feet of living area. The 1 acre property with direct access to the Indian River and intracoastal waterway, sits among many other luxury homes on Riverside Drive, but one of the unique features of this home is its private tennis court and gated entry way that leads down a long paver driveway to the main entrance.
The list price of the home was $1,499,000.00, but Kyle Hogan helped his client negotiate a contract price of $1,400,000.00. At the advice of Kyle Hogan, the buyer used an entirely different inspection process. Not only did the client hire a home inspector, but he enlisted the services of a local general contractor to coordinate subcontractors to inspect each of the major, important, and costly to repair items like the roof, A/C systems, plumbing, dock, seawall, pool, irrigation and septic systems. This was a crucial and money saving decision since the sellers had limited the repairs to $5,000.00 on the contract. With estimates in hand from each subcontractor for items in need of repair, the buyer request an adjustment of the contract price of $25,000.00 to the final sales price of $1,375,000.00.
Typically a home inspection from a licensed inspector on a home of this size runs about $500.00. This home inspection cost the buyer $2,500.00, but ended up saving the buyer $25,0000.00. That is a pretty good return on the investment for the more thorough home inspections. These types of inspections are a great resource for people purchasing luxury properties.
This is another high priced sale in the Brevard County Florida real estate market which seems to be doing much better than the rest of the state of Florida and even most parts of the United States. Inventory is low and properties are moving quickly. This home was listed for 7 days before it went under contract.
