South Florida homes for sale. David Manley, REALTOR.





Having been within the real estate environment for the last 10 years, evaluating thousands of properties and witnessing the rise and fall of the real estate market, lends a unique degree of knowledge that is beneficial to all aspects of any residential purchase.

I would like to thank you for considering me as your representative in what is commonly considered the largest single transaction of an individual or family's lifetime. I guarantee you will find no other full time Realtor that will keep your priorities ahead of all others and will be dedicated to you and your purchase.

Let's Get Started

There is information that you will need to consider during the purchase process and I have outlined below what I feel is necessary to set you up for success.

If you are at the first stage of the purchase process and have not engaged in a lending relationship, then this is a necessary first step prior to searching available residential inventory. Obtain a copy of your credit report with your FICO score and address any derogatory items in which may adversely affect your ability to command the best rates available. During mortgage application process, it is not recommended to apply for any new lines of credit or remove existing accounts in which may be favorable. Remember, the higher your credit score the more buyer power you will bring to the table. Lenders are a daily part of our business and finding the right fit for you is typically a phone call away. If you have already addressed funding options, know your purchase limit, anticipated mortgage payment and necessary down payment, then you are well on your way to becoming a home owner.

Pre-Qualification vs. Pre-Approved

Unlike years past, a pre-qualification letter was considered a legitimate means to prove you have the ability to finance a property. But with lending guidelines more rigid and an increase in funding denials, most sellers are requiring a pre-approval letter instead. The difference is rather simple; A pre-approval letter states to the seller that your lender has fully processed you as a valid buyer. Meaning, the lender's underwriting department has accumulated your personal information including; employment, earnings and credit information in efforts of determining your funding parameters. At this point, all you need to do is find the property you want to buy.

Diving In

Successfully purchasing real estate requires an understanding of what drives our current market. These primary factors are; buyers, distressed activity, inventory, purchase volume and conditions of property. The market has seen better days, but this doesn't mean that sellers are not on an even playing field.

How I Am Different

As you may have read in my BIO, one of many assets I bring to the table is clear and accurate information. There is no reason to assign resources and take up your valuable time if there are no means to find and purchase your perfect home.

The Current Real Estate Market: Myths vs. Facts

With most pricing reflecting 2002 levels, this brings a unique opportunity for today's buyer. One only has to pick up a newspaper or turn on the evening news to understand the market pricing has fallen, but this does not mean that properties are being sold on the retail market for 20-30% below market value. In fact, the vast majority of residential real estate is being sold [traditional sale] at or within 5% of market value. The deals that most hear about are being sought after and purchased via the wholesale market and auctions which are not available to most buyers. The actual deal that awaits you is defined as what the property is selling for today vs. what the property would have sold at during the boom years. The exception to this are REO [foreclsoure] and Short Sale properties. [scroll down for more information on these]

Our First Day

Whether it is a face to face meeting or a conference call, the first task at hand is for us to identify your specific needs. A beach condo, golf villa, townhouse or single family home, all of your needs are outlined so I can go to work for you. My ultimate goal is to find you the property that you want to buy not the property I want to sell.

Need, Want & Wish

In order to filter thousands of properties available, it is necessary to narrow down the search by using a simple strategy. We create the parameters by need, want and wish. You may need three bedrooms and two bathrooms, may want four bedrooms and 3 bathrooms and wish for granite counter tops, a pool and a three car garage. All of these factors weigh in the search process, need to be categorized by priority and may be attainable based on your purchase limit.

Searching Inventory

South Florida inventory changes daily. This is why we need to be on point during the search process and ready to act swiftly. Remember although overall transaction volume has decreased since the boom years, there is still a steady and consistent stream of qualified buyers just like you. In addition, investor and foreign buying customers are at record levels.

Previews & Showings

We have identified what properties you  are truly interested in. I try to limit these to 3-5 listings in that too many previews tend to be confusing and cloud the decision making process. I will set up showing appointments and we will view the properties online and in person. I encourage clients to bring a camera, take notes and rank properties using an easy 1 to 10 scale based on your needs, wants and wishes...and of course price. A practical approach to the purchase makes a practical home owner.

REO's & Short Sales

Real Estate Owned [REO-Foreclosure] quite simply is a bank owned property. It is a property that attempted to sell at a foreclosure auction but was unsuccessful resulting in the bank retaining ownership and is now for sale on the retail market. There are advantages to purchasing these properties as most sell under market value but typically have some form of maintenance issues. In addition, they typically are free of liens and/or encumbrances. Depending on the price range, this segment of the market can be very competitive as investor activity is very high and largely conducted in cash. Cash buyers are coveted by sellers as the transaction time is shortened to weeks and typically are sold "As Is" with no disclosures.

A Short Sale occurs when a homeowner is attempting to sell their property for less than the mortgage pay-off [underwater]. There are [2] types of Short Sales; Approved and Un-Approved. An Approved Short Sale is when the homeowner has applied for and been granted ability to Short Sale. The bank has deemed its worth and set an acceptable listing price. An Un-Approved Short Sale is where the property has been listed [at a market friendly price] but the sale and price point have not been approved by the lien holder. Un-approved listings are predominant as most lenders require the property to be listed on the open market first, showing a listing history, prior to being approved. There are advantages to this as most are owner occupied and most ongoing maintenance is being performed. The down side an un-approved property could take in excess of 6 months to close and transfer title. Approved sales can take up to 120 days to close vs. 30-45 days on a traditional transaction.

Purchase Offer

This is the BIG step. You have decided this is the property for you and using my market knowledge, current market activity and recent sales comparisons, we have the ability to make an educated offer. As earlier stated, inventory levels change daily so when you choose the property for you...we must act swiftly.

Sharpening The Pencil

Residential inventory has shrank over the past 6 months and formulating an attractive offer will make the difference when a seller is evaluating your offer. There are simple factors in an offer that can persuade a seller to simply not look at any other contract. This does not imply that full-priced offers are the automatic, but conventional loans, a heavy down payment and a short close are a few to seriously consider.

Contract Negotiations

All communication between parties is managed by the respective agents. This allows a non-emotional approach to the negotiations and promotes a fluid transaction. As your Agent, I have an ethical responsibility to explain the purchase contract and its terms in a manner in which you fully understand. In addition, address any concerns or requests in which you may have in the process. It is also my duty to form you and facilitate the transaction in your best interest and follow the laws afforded to you by the State of Florida.

Offer Accepted

Immediately following an agreement on both parts, there are a series of activities that will follow. Including necessary deposits, property appraisal, home inspection, insurance inspection and survey. Most of these acts are managed by the agents, but you will be involved in a portion of the process.

Closing

In Florida, real estate transactions are coordinated by the lender and facilitated by a title company or attorney. This is different from other states in which conduct escrow. The process is somewhat different but the end result is the same. The closing is typically done in person as the closing documents need to be signed and notarized.

So, what are you waiting for? Pick up the phone or email me today. Let's create a lifetime relationship...today.

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David Manley, P.A.
Realtor, CDPE

(954) 531-2236 (Direct Line)

RE/MAX In Motion
939 N University Dr
Coral Springs, FL 33071
954.531.2236
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REALTORREALTORCertified Distressed Property Expert

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