It's time for Back to School!

Was that a collective groan I heard? Do you remember a few short months ago when you wondered what you were going to do all summer? The end is near…

Lake County Florida School is back in session August 18, 2008.

It is time to go hunting for those incredible deals on school supplies. This is my children’s favorite part of back to school. (That is until I inform them that they do not need a new backpack, pencil box, lunch box, or pair of scissors because last year’s is still perfectly good – there are needs and there are wants.)

With plenty of sales the savvy shopper has to make a plan in order to make sure she has the best deal.

It’s a little like house hunting. There are many deals to be had but sometimes what appears to be a great deal is only mediocre.

I’ve been researching homes in the price range of $175,000 to $205,000 for some clients. The thing about this price range is there is a bunch of inventory that falls into the range. Even when I get specific on the number of bedrooms and square footage I end up with many results. The trick is determining from all those homes which home is the best value.

For $189,000 you can get an older home in an established neighborhood where homes have maintained a steady increase in value. This home might need a little updating but it has a good floor plan and has been well maintained.

On the other hand, for $193,000 you can get an almost new home with flashy stainless steel appliances and granite countertops. The neighborhood was the place to buy a couple years ago and home values were driven up fast. The seller is sacrificing the home for well below market value in order to cut off the financial drain he is experiencing.

Which would you choose?

It seems that most people I’ve run into lately would go for the newer home. They see a $4,000 difference and a great bargain to boot. This seller is sacrificing his home. They see built in equity.
Don’t let those flashy appliances and sleek countertops blind you. You need to look more closely at the value.

In the case of my clients we looked at several homes from both examples. For them the best value was a newer home that the seller was sacrificing. The HOA fees are inexpensive, it is closer to work and the home values in the neighborhood have stabilized.

We saw many homes and some appeared to be an incredible deal but when it came down to numbers the value disappeared. A professional REALTOR® can give you advice on which home is the better choice.

Interested in buying or selling a home in northeast Lake County Florida, including Eustis, Mount Dora, Howey-in-the-Hills, Tavares and Sorrento contact JoEllen E. Stranger-Thorsen, REALTOR® for all your real estate needs. Visit my website.