How Much Do You Need to Disclose About Your Property?

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Today I want to talk about property disclosures because they've been in the news a lot recently. So, what should you disclose about a property?

My best advice would be that if you're questioning whether you should disclose something, you should just go ahead and tell the potential buyer. No matter how big or how normal, you should disclose the history of the property to the best of your ability.

There are some homeowners that recently failed to disclose a sinkhole on their property, and they have been sentenced with criminal charges for not disclosing this fact about their home.
 

This is very important if you're selling your home on your own. A lot of FSBO sellers don't know this, but they need to spill the beans when a buyer asks about their property. Although it's an extreme case, you don't want to end up in jail just because you withheld some information about your property.

Buyers in Tampa should be careful to get a disclosure on a home that they're purchasing, because as a buyer you're fully entitled to one. However, if you buy a foreclosure, you must buy it 'as is'.

If you have any questions about this issue, or if you need real estate assistance in Tampa, please don't hesitate to contact us! We look forward to hearing from you!

How Do You Find the True Value of Your Home?

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Before we begin talking about this topic, there are a few different definitions to be aware of.

• Assessed value: This is the value that the county assessor places on your home. They cannot come inside your home and do not account for upgrades.
• Taxable value: This is your assessed value minus any exemptions that you may have, like homestead exemptions. Both of these values are usually lower than what your true market value is.
• Market value: This is subject to change depending on market conditions. The value that you see on Trulia or Zillow is not your market value. Your market value depends on factors like inventory, demand, and how capable your Realtor is in creating artificial demand and raising the sale price of your home. A comparative market analysis is also crucial to pricing your home because your home's value should match those of homes in your area.
• Appraised value: This is the value that the bank's appraiser assigns to your home in order to ensure that it is not overpriced. This value should be close to your market value. 

Your true market value is the most important value on your home. It can change depending on the market you're in, and also the type of Realtor that you're using. I run a comparative market analysis to determine an accurate price for your home. I take into account the upgrades that you've done on your home, as well as your location and the condition of your home. This allows me to price your home accurately and draws buyers to your home, thereby getting you top dollar.

If you're looking to buy or sell this summer, please get into contact with me. I'd be happy to examine your property and put together a plan to sell your home for top dollar.

Why Now Is a Good Time to Sell in Tampa Bay

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A lot of people have been asking me whether now is a good time to sell in Tampa Bay. The short and simple answer to this question is: yes, it's absolutely a good time to sell in Tampa Bay.  

Inventory levels are very low, and that puts us in a seller's market. When you put your home on the market, you will have less home sellers to compete with, and more buyers will be looking at your home. 

Another factor is that interest rates are at all-time lows. This helps you in two ways because it will spur more buyers into the market, and then it will also help you when you go to purchase a home after selling your old one. When affordability goes up, both buyers and sellers can reap the benefits. 

Home values in Tampa Bay have also increased, and some home values have increased in the double digits within the last two years. This is only another reason to put your home on the market.

I would love to consult with you and figure out if you could benefit from a home sale right now. Please don't hesitate to contact me, I would love to assist you!