As of the 16th of June the sale of our townhouse was complete.  We have moved!  We are now settling in and working toward making our new house our new home.  It's a beautiful three bedroom single family home in Winter Garden, Florida.


Now that the sale is complete, I have some experiences to share.  First:  I CAN COMPLETELY EMPATHISE WITH SOMEONE WHO IS SELLING THEIR PRIMARY RESIDENCE!  I have bought and sold homes before and I am not new to the process from the seller's perspective, but I feel like my appreciation for what a seller feels throughout the process has been acutely heightened by this experience.

The good:  We received what we believed to be a good offer in terms of price and conditions.  The earnest money deposit was less than what I normally advise clients to accept, but – the market is slow, and I was comfortable with the buyers.  Besides, we didn’t “have” to sell, so if the buyers walked we’d just start over.

The good:  We closed on time!  The agent representing the buyers did a great job in scheduling what needed to be scheduled, and their mortgage broker was on the ball as well.

The good:  Loan Commitment!  The underwriters agreed!  We can schedule a closing day!

The bad:  In the typical fashion for a seller, we wanted to use the proceeds of the sale to move us into our new house.  But, per the contract and the traditional way conducting real estate transactions around here, we wouldn’t get the proceeds of the sale until at or after the closing.  And the closing couldn’t happen until after we moved, so the buyers could do their final walkthrough!  We worked it out, but the scheduling was a challenge.  Note to self:  Don’t forget to discuss this with your seller clients!

The ugly:  The title company.  When discussions concerning the scheduling I just mentioned began, the title company became belligerent, unhelpful, and downright ugly.  Their inability to follow my instructions exacerbated the scheduling dilemma, and caused problems where none had existed.  In addition to the problems they created, trying to rectify them caused them to become beligerant and unprofessional.  It is with personal experience and professional opinion that I request and suggest:

DO NOT DO BUSINESS WITH (contact me for title co name) IN FT. LAUDERDALE.

The good:  Let’s end on a good note.  We successfully closed on the sale and have moved into a beautiful new home.  And I’m really happy about the people who bought the townhouse.  They seem like a great fit, and hopefully their lives will be as fulfilled as ours was when we lived there. 

I am proud to report that the Florida legislature and Governor have enacted and signed into law considerable restrictions on the power of eminent domain in the state of Florida. 

http://www.planetrealtor.com/florida/news/daily/news.cfm?article=n2-05122006

On the first of each month I gather the numbers from the MLS for the prior month's activity. This helps me spot trends and keep up with the local real estate market. Here's what they look like for April 2006:

MLS Wide (Dade, Broward, and Palm Beach Counties)
SINGLE FAMILY and CONDO/TH/VILLAS

Data Item	Apr '05	Apr '06	% Change
New Listings	13,713	21,212	+55%
Closed Sales	9,644	5,233	-46%

• 4,580 Listings went under contract in April
• 78,386 Listings are currently active and available For the entire MLS
• At this rate it would take more than 17 months to get contracts for current inventory.
• Supply/Demand Ratio (New Inventory to Contracts Accepted) is 4.63, down very slightly from 4.89 last month (lower is better).

City of Deerfield Beach
SINGLE FAMILY and CONDO/TH/VILLAS

Data Item	Apr '05	Apr '06	% Change
New Listings	200	394	+97%
Closed Sales	140	106	-24%

• 97 Listings went under contract in April
• 1330 Listings are currently active and available
• In Deerfield at this rate it would take more than 13 months to get contracts for current inventory.
• Supply/Demand Ratio (New Inventory to Contracts Accepted) is 4.1, down slightly from 4.6 last month (lower is better).
  

Summary:  The numbers have ever so slightly improved over last month, but the inventory level, saturation rate, and supply/demand ratio still display a significant buyer's market in our part of south Florida.  

This is a picture of the view from the back of my townhouse, which as you know is for sale.  It is a stitched panaramic of four photos taken with my new Nikon D50 digital SLR camera.  The zoom lens set was set at 18mm (equivelant to 27mm on a typical film camera), which is the widest the lens that came with the camera will go.  You can click on the photo for a slighly larger version. 

Thank you for indulging me while I show off my new toy.... er, I mean work tool.  A superwide angle fisheye lens and virtual tour creation software are also on the way.  I can't wait!

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Find more information on photography for real estate in these great blogs:

http://lohrman.com/realphoto.htm

http://digitalcameras.realtownblogs.com/

It's looks as though the idea to make one's tax savings under the SOH Amendment (SOH) portable is dead-- for now.  The legislature will likely commission a study on the idea and perhaps take it up at some point in the future.  Here's the article:

http://www.planetrealtor.com ...

I agree that a study must be done.  The increased property tax burden on businesses and other non-Homestead properties must be considered.  If portability related tax increases drive small business and second homeowners out of the state, then it might not be a good idea after all.  Let's study it and see the numbers... then decide. 

Florida real estatate sales associate and broker applicants have been required to submit fingerprints the Florida Department of Law Enforcement and the FBI as part of the application process for a long time now.  But interestingly, the state is now requiring the submission of electronic fingerprints as of July 1, 2006. 

More Information Here: http://www.myflorida.com/dbpr/dbpr/electronic_fingerprinting/hot_topic.shtml

Anonymous asked: Here it is April 19 and I wonder, what is going on with Greg?

Great question, Anon, thanks for asking!  My wife and I went up north for the Easter Holiday and her parent's 50th anniversary.  We had a great time!   Of course it was colder than we have become used to, but it did get above 60° F every day; and even almost reached 80° once! 

We're back, and the house should be back on the market by tomorrow morning.