Steven Silcock Michael Jacobs 1622 Pine Ridge DR Davenport

Transcription

"This is an opinion of value or Comparative Market Analysis and should not be considered an appraisal . In making any
decision that relies upon my work, you should know that I have not followed the guidelines for development of an appraisal or
analysis contained in the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation ."
Researched and prepared by
Steven Silcock
Subject Property
1622 Pine Ridge DR
Davenport
Prepared exclusively for
Michael Jacobs
Prepared on
December 07, 2015
Steven Silcock
BARDELL REAL ESTATE
9110 US HWY 192
Clermont, Florida 34714
407-574-0218
[email protected]
33896-4744
1622 Pine Ridge DR
Polk, 33896
Monday, December 7, 2015
Summary of Comparable Listings
This page summarizes the comparable listings contained in this market analysis.
Active Listings
Address
1622 Pine Ridge DR , Davenport
247 SAND RIDGE DRIVE FL
1449 PINE RIDGE DRIVE FL
Bds Bth
4
3
4
3
4
3
4
3
4.0 3.0
Sqft Ht
1960
1,960
1,960
1,910
1,943
Acres
0.130
0.130
0.130
0.130
0.130
List Date
Bds Bth
4
3
$180,000
4
3
$180,000 4.0 3.0
Sqft Ht
1960
1,910
1,910
Acres
0.130
0.130
0.130
SLD Date
Price
Averages:
$185,000
$189,000
$205,000
$193,000
DOM
09/25/2015
09/18/2015
08/14/2015
73
80
115
89
Sold Listings
Address
Price
Averages:
DOM
09/08/2015
Low
Median
Average
High
Count
Comparable Price
$180,000
$187,000
$189,750
$205,000
4
Adjusted Comparable Price
$180,000
$187,000
$189,750
$205,000
4
On Average, the 'Sold' status comparable listings sold in 106 days for $180,000
Researched and prepared by Steven Silcock
BARDELL REAL ESTATE
106
106
1622 Pine Ridge DR
Polk, 33896
CMA Price Adjustments
This page outlines the subject property versus comparables properties.
Subject Property
Details
MLS#
Status
List Price
List Date
Sold Price
Sold Date
P4707203
Active
$185,000
09/25/2015
S4820620
Active
$189,000
09/18/2015
Windwood Bay Ph 02
Polk
33896
1960
WINDWOOD BAY PH 01
Polk
33896
1,960
Beds
Baths
Parking
4
3 (3 )
73
4
3 (3 0)
Pool
In-ground
2004
0.13
Community, Private
2004
0.13
Subdiv
County
Zip
Sqft Heated
# Floors
DOM
Year Built
Acres
Remarks:
Adjust
0
0
0
0
0
0
0
0/0
Adjust
80
4
3 (3 0)
0
0
0
0
0
0
0
0/0
0 Private
0 2004
0 0.13
0
0
0
This well maintained 4 bedroom 3 bath home
is located in the popular community of
Windwood Bay located just off Hwy 54.
Formal dining entertainment can be done with
ease from your separate dining area or a
more relaxed eating space is just off the
kitchen with sitting space in the family room.
There is access from the kitchen/family area
Price
Total Adjustments
Adjusted Price
Details
WINDWOOD BAY PH 01
Polk
33896
1,960
Price reduced on Beautiful Pool home located
in Windwood Bay, Davenport. Walk into your
new fully furnished Turnkey home and be
met by Cathedral Ceilings which give height
to a bright spacious open plan Living Room
and Formal Dining Room. To the left are two
spacious Bedrooms and a full large bathroom
to share. The laundry room is fully equipped
$185,000
$0
$185,000
$189,000
$0
$189,000
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
CMA Price Adjustments
This page outlines the subject property versus comparables properties.
Subject Property
Details
MLS#
Status
List Price
List Date
Sold Price
Sold Date
S4819072
Active
$205,000
08/14/2015
P4704452
Sold
$185,000
03/26/2015
$180,000
09/08/2015
Windwood Bay Ph 02
Polk
33896
1960
WINDWOOD BAY PH 02
Polk
33896
1,910
Beds
Baths
Parking
4
3 (3 )
115
4
3 (3 0)
Pool
In-ground
2004
0.13
Private
2005
0.13
Subdiv
County
Zip
Sqft Heated
# Floors
DOM
Year Built
Acres
Remarks:
Adjust
0
0
0
0
0
0
0
0/0
Adjust
106
4
3 (3 0)
0
0
0
0
0
0
0
0/0
0 Private
0 2005
0 0.13
0
0
0
Fully furnished 4 bedroom, 3 bathroom single
story home with a heated pool close to
Champions Gate and Disney. This home has
been owned by the owners since new and
has been well maintained and is in superb
condition. This home benefits from two
ensuite bedrooms and two spacious tiled
living areas and there are no immediate rear
Price
Total Adjustments
Adjusted Price
Details
WINDWOOD BAY PH 2
Polk
33896
1,910
Great Floor Plan for Residential or rental.
Double master bedrooms, large Formal Living
and Dining. Large living room. master has
walk in closet. Recently repainted inside and
out. New A.C. 2014 inside and out. This one
is in A plus condition
Lovely pool with spa Electric pool heater.
$205,000
$0
$205,000
$180,000
$0
$180,000
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
Minimums and Maximums
This page summarizes key fields of the listings in this analysis.
The listings in this analysis can be summarized as follows:
Listing Price between $185,000 and $205,000
Selling Price at $180,000
4 Bedrooms
3.00 Total Bathrooms
1,910 to 1,960 Square Feet
$94.39 to $107.33 per Square Foot
$94.24 per Sold Square Foot
Year Built between 2004 and 2005 years
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
List Price and Sale Price
This graph illustrates the list price, along with sale price in Sold listings.
Price Graph
240K
200K
160K
Sum of
Listing.C losePrice
80K
40K
52
P4
70
44
72
S4
81
90
20
06
82
S4
70
72
03
0K
P4
Price
Sum of Listing.ListPrice
120K
MLS#
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
C v
vev
e e eee e
e
Ae Properties
MLS!
S
#
!
R"#
These pages gi e a general o
.
247 SAND RIDGE DRIVE
ty
P4707203
Polk
ACT
P
D
e
MLS!
#
!
R"#
P
D
e
4
3 (3 0)
2004
L e
$185,000
1,960
This well maintained 4 bedroom 3 bath home is located in the popular
community of Windwood Bay located just off Hwy 54. Formal dining
entertainment can be done with ease from your separate dining area or a
more relaxed eating space is just off the kitchen with sitting space in the
family room. There is access from the kitchen/family area to the pool deck.
This home is in just perfect distance of I4, local shopping and banking.
Traveling to Disney World and Orlando's famous attractions. This home offers
an ideal purchase for a vacation villa or investment home. There is an existing
tenant occupying the home until December 2015 with a rental amount of
$1350 and the lease must be honored in the sale of the property.
Head east on Hwy 192 to Hwy 27 south for approx. 7 miles. Turn left onto
Ronald Reagan Pkwy (Hwy 54) and follow for approx. 3 miles. Turn left onto
Heritage Pass, then right onto Lake Shore Pkwy. Turn right onto Sand Ridge
Drive and home is on the right.
ty
Be
B
e
S$% &ee
S4820620
Polk
S
ACT
Be
B
e
S$% &ee
4
3 (3 0)
2004
L e
$189,000
1,960
Price reduced on Beautiful Pool home located in Windwood Bay, Davenport.
Walk into your new fully furnished Turnkey home and be met by Cathedral
Ceilings which give height to a bright spacious open plan Living Room and
Formal Dining Room. To the left are two spacious Bedrooms and a full large
bathroom to share. The laundry room is fully equipped with a washer and
Dryer which leads to the 2 car garage. Being drawn to the back of the house
you will see a bright open Kitchen and Family Room. You have a choice of
eating in the Breakfast nook or at the kitchen Island. The kitchen is fully
equipped with plenty of countertop space for the cook of the house. Go
outside the sliding doors to an inviting Blue Pool with a child safety net to
keep every one safe and entertain your friends in the patio area. This home
has two master bedrooms. One is located off the family room with a walk in
closet and full private Bathroom and the other Master bedroom is at the front
of the home with a Full private bathroom. The home is minutes away from
major highways making easy access to LEGOLAND Park, Walt Disney World,
SeaWorld, Universal studios, Orlando International Airport and the beaches.
Also near to schools, shopping and Dining. Motivated seller. Willing to look at
all offers
From I4 west take exit 58. Right onto Champions Gate Blvd. Left onto Ronald
Reagan Pkwy. left onto Heritage Pass. Right onto Lake Shore Pkwy Right onto
Sand Ridge Drive and the house is on the left.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
'() *+, -./,+0
1
1231425 67 892 :2;2<82= >36>23842:
?@EFGe Properties
UHQ
Q8P8T:J
W6TXVJJ
P3[4XNJ
YZ[:J
.
1449 PINE RIDGE DRIVE
ty
S4819072
Polk
ACT
P
_432<8J
O2=:J
OP89:J
KN2J
Q\]8 ^2P82=J
4
3 (3 0)
2005
H I34<2J
$205,000
1,910
Fully furnished 4 bedroom, 3 bathroom single story home with a heated pool
close to Champions Gate and Disney. This home has been owned by the
owners since new and has been well maintained and is in superb condition.
This home benefits from two ensuite bedrooms and two spacious tiled living
areas and there are no immediate rear neighbours. There are numerous golf
courses within a 10 minute drive and a supermarket and restaurants are
within a 5 minute drive. This home is currently used for short term rental
vacations but would also be ideal for a primary or second home.
DRIVING WEST ON I.4 TAKE JUNCTION 58. TURN RIGHT ON CHAMPIONSGATE
BLVD. TURN LEFT ON RONALD REAGAN PARKWAY. TURN LEFT ON HERITAGE
PASS, TURN LEFT ON WILLOW VIEW DRIVE THEN TURN LEFT ON PINE RIDGE
ROAD.
Sold Properties
UHQ
W6TXVJJ
P3[4XNJ
YZ[:J
ty
P4704452
Polk
Q8P8T:J
SLD
P
O2=:J
OP89:J
KN2J
Q\]8 ^2P82=J
4
3 (3 0)
2005
$185,000
$180,000
9/8/2015
1,910
Great Floor Plan for Residential or rental. Double master bedrooms, large
Formal Living and Dining. Large living room. master has walk in closet.
Recently repainted inside and out. New A.C. 2014 inside and out. This one is
in A plus condition
Lovely pool with spa Electric pool heater.
_432<8J
HQ I34I34<<2J2J
Q _P82J
Open field out the back.
Residential and both short term and long term rentals are located in this
neighborhood.
Take exit 58 from I-4 at light turn right towards Champion Gate. At
intersection At hwy 54/ Ronald Regan Parkway turn left and look for
windwood bay on your left about a mile down.
Far Bar AS IS contract
Home is vacant and easy to show.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
`ab cdf ghifdj
k
klmknlo pq rsl tlulwrlx ympylmrnlt
z{|}~ |}
pq ntrnt
nsltr mnwl
k
k mnwlr
Total
3
Lowest Price
$185,000
erage Price
$205,000
.
$193,000
$99.38
0K
40K
80K
120K
160K
200K
BARDELL REAL ESTATE
240K
1622 Pine Ridge DR
Polk, 33896

¡ ¢£ ¤¥¦¢§ ¨ ¨¢¤
©ª«¬ ®ª¯°®±²°³
´ ¡ µ¤¢¶·¤
¸·£¤¢ ¹¦
º
º·» ¹¦¼½¾¿¢
Total
1
Lowest Price
$180,000
.
$180,000
erage Price
$180,000
$94.24
0K
40K
80K
120K
160K
200K
BARDELL REAL ESTATE
240K
1622 Pine Ridge DR
Polk, 33896
ÀÁÂ ÃÄÅ ÆÇÈÅÄÉ
Ê
ÊËÌÊÍËÎ ÏÐ ÑÒË ÓËÔËÕÑËÖ ×ÌÏ×ËÌÑÍËÓ
.
Summary Graph/Analysis
The use of a ‘k’ after the decimal and -0, indicates thousands.
250.0K
200.0K
150.0K
100.0K
50.0K
0.0K
Avg Price
Cumulative Analysis
Listing Category
Active
Sold
Min Price
Max Price
äåæÝçè ÜÞâãÝ
éâÚêÝçè ÜÞâãÝ
ØÙÝÞáÚÝ ÜÞâãÝ
ØÙÚ Û ÜÝÞ ßà
$185,000
$180,000
$205,000
$180,000
$193,000
$180,000
$99.38
$94.24
$180,000
$205,000
$189,750
$98.10
Totals / Averages
Sold Property Analysis
Address
List Price
Total Averages
$185,000
$185,000
Sold Price
%SP/LP
SP/Sqft
$180,000
$180,000
%97.30
%97.30
$94.24
$94.24
Property Summary
S
Street Address
Bds
Bth
Sqft Ht
L Price
S Price
Sold Date
Active
ACT
4
3 (3 0)
1,960
$185,000
ACT
4
3 (3 0)
1,960
$189,000
ACT
4
3 (3 0)
1,910
$205,000
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
ëìí îïð ñòóðïô
õ
õS÷úúS ýý÷ú
B ý
BS
4
3 (3 0)
õ S S
These pages give a general overview of the selected properties.
L
ö÷øùú
õ ö÷øùú
õûüý þÿSú
$180,000
09/08/2015
Sold
SLD
1,910
$185,000
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
Pricing Recommendation
The most recent sales in the community have been the larger floor plans where several distress homes
have served to keep relatively stable. The highest price achieved in the last few months for a
comparable model was $180,000 – this sale was contingent on an FHA mortgage and therefore a vlued
comparable.
The following table provides a summary based on the recent sales activity contained in the report.
Low Median Average
Comparable Price
High Count
180,000 187,000
189,750 205,000
4
Adjusted Comparable Price 180,000 187,000
189,750 205,000
4
Based on current market activity I would suggest listing your property price for sale between $185,000.
The final listing price is something that we would need to discuss in more detail and I would obviously
need to view the home but to assist you in our initial discussions regarding the potential sale I have
prepared a net proceeds based on this sales price. The following page contains a breakdown of the costs
involved in the sale and an estimated net proceeds assuming a sales price of $185,000.
I would be more than happy to talk you through the individual figures, but here is a quick explanation on
some of the costs you may not be familiar with:Title Policy - in Florida it is customary for the seller to pay title insurance for the buyer; it effectively
protects their investment against issues with title and is based on the sales price of the home.
Documentary Stamp Tax - similar to stamp duty in the UK this is paid direct to the state and again is
based on a percentage of the actual sales value.
Capital Gains Tax – gains tax will apply to any realized gain. Your CPA is best positioned to confirm your
actual liability.
FIRPTA (if applicable) - In the US the Internal Revenue have a specific act called FIRPTA (the Foreign
Investment in Real Property Tax Act). It applies to the sale of all property owned by a Foreign National
and the IRS dictate that 10% of the sales price should be with-held at closing until they have confirmed
that you do not have any outstanding tax liabilities. It’s a te porary positio a d there are a few
exceptions but you should plan on these funds not being available to you on the day of closing.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
Estimated Seller's Net Proceeds
Address: 1622 pine ridge
Estimated Sales Price: $ 185,000.00
1st Mortgage Balance: $
-
2nd Mortgage Balance: $
-
Seller's Expenses
Real Estate Commission:
Documentary Stamps on Deed:
Title Company Fees:
Closing Fee
Search Fee
Municiapl Lien Search
Title Insurance
Figures are estimates only, not a guarantee, and are subject to change
6% of Selling Price
0.7% of Selling Price
$ 11,100.00
$ 1,295.00
$ 1,895.00
550.00
195.00
150.00
1000.00
Estoppel Request (HOA)
T.B.A
Total Estimated Seller Expense:
$ 14,290.00
Estimated Sale Price:
Less Estimated Seller Expenses:
Less Sellers Mortgage:
$ 185,000.00
$ 14,290.00
$
-
Estimated Net Proceeds:
$ 170,710.00
Please Note:
The above estimates assume that:
1. All real estate (property) taxes are current
2. All real estate condominium / home owner association fees are paid in full.
3. Any special assessments are paid in full
FIRPTA - as a Foreign National the IRS mandate a 10% withholding to be made at closing.
These funds are normally returned within 30-60 days but will not be available on day of closing.
Mortgages - if you have a mortgage on this property please contact your lender and request a payoff value
You must have sufficient funds on the day of closing to pay off your mortgage. If the estimated funds listed
above is less than the outstanding balance on your mortgage we may still be able to assist you in the sale of
the property but it will require further review.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
Activity vs. Timing
T ket v
a.
T arates the level of ex c ov . It also
cr
. When a propert c, it generates
a v
v v eaers, ca cr
ov . It
e c ei ca k ave.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
The Effect of Over Pricing
This chart highlights the importance of pricing correctly at market value.
This is the average percentage difference between the Selling and
Asking Price by the length of time the home was on the market.
-
Put your best foot forward immediately
Establish a competitive asking price
Keep your home in top showing condition
Offer favorable financing terms
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
The Benefits of Using a Professional REALTOR®
This page outlines the benefits of using a professional REALTOR® to sell your property.
You’ll experience a wide variety of benefits
when you hire a real estate professional.
Successfully selling a property is a
complicated exercise, and REALTORS® have
the experience, resources and contacts to
complete your sale quickly and smoothly.
Pricing
A REALTOR® will help you determine the
selling price of your property at a level that
accurately reflects its value in current market
conditions and will not cost you missed
opportunities.
Marketing
A REALTOR® will have many useful
suggestions on ways to improve the
marketability of your property, including
cosmetic repairs and other items that will
create a favorable impression among buyers.
Your property will enjoy a wider exposure
among buyers when you use a REALTOR®. In
addition to using flyers and organizing open
house days, a REALTOR®'s extensive contact
list of former clients, newly qualified buyers and
other industry professionals can significantly
reduce the time your property is on the market.
A REALTOR® will also allow you to tap into a
highly productive and extensive industry
network, such as a Multiple Listing Service or
other industry marketing system.
Advertising your property efficiently is another
area where a REALTOR® can play an
important role. A REALTOR®’s experience in
deciding on the most appropriate type and
frequency of advertising for your property can
be invaluable. For example, placing too many
ads can create the impression that there may
be something wrong with the property or that
the seller is desperate.
Security
Security is a major consideration when showing
your home. By using a REALTOR®, you can
rest assured that all showings will be
pre-screened and supervised.
Negotiating
When negotiating a purchase, most buyers
prefer to deal with a middleperson who is
objective, unemotional and professional.
Buyers will often feel more comfortable with a
REALTOR® than with the owner when they want
to raise issues that need resolving before
making an offer.
Monitoring, Renegotiating, Closing or
Settling
A REALTOR® will guide you through the
minefield of potential problems associated with
the appraisal, inspection and financing
process, including the often complicated
escrow instructions. In addition, your agent can
meet and instruct any specialists or
tradespeople who may be required for repairs
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
The Importance of Pricing
This graph illustrates the importance of pricing correctly. The centerline
represents market value. As you move above this market value, you attract
much smaller percentage of prospective buyers, greatly reducing your
chances of a sale. Conversely, as you move below market value, you attract
a much larger percentage of potential buyers.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
Setting the Price
When setting a price for your property, the listing level
must strike a balance between the seller’s need to
achieve the best-possible return and the buyer’s need
to get good value. With many years of experience, a
professional Real Estate Agent can help you set a price
that will accomplish both objectives.
Establishing market value
The market value of your property is determined in
exactly the same way as any other commodity – what
a buyer is willing to pay for it in today’s market.
Despite the price you paid originally, or the value of
any improvements you may have made, the value is
determined by market forces.
Look at the competition
Buyers look at about a dozen properties on average
before making an offer on a property. As a result, they
have a good overview of the market and will compare
your property against the competition. If it’s not in line
with similar properties that are available, buyers won’t
consider it good value for money.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
The Pitfalls of Overpricing
Overpricing your house in the
belief that you can reduce the
price back later is a strategy
that can backfire badly. For
example, by the time you
reduce your price, you may miss
out on a surge of interest in
properties like yours. Also, if
prices are lowered, buyers may
wonder if there’s something
wrong with the property that
kept other buyers away. So to
keep from selling your property
at below market value and from
wasting valuable time, don’t fall
into the overpricing trap.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
Where a Commission Goes
This page describes how a commission is divided amongst all of the parties involved.
After a successful sale of your property, the real estate commission
is shared among all who assisted in this important transaction.
Grally, the commission is divided four ways: to the listing broker,
the listing agent, the selling broker and the selling agent. recognition of the important roles each played in the sale of your
property, each is compensated by a percentage of the commission.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
Steps to a Positive Showing
This page describes the key steps to making for a positive showing of your property.
You only get one opportunity to make a good impression, so you want to make it count following these guidelines, you’ll enhance the attractiveness of your property and reduce the time it
takes to generate serious offers.
First Impressions
How your property appears from the outside is
important. To make a good first impression on a
buyer, a clean driveway, a freshly mown lawn
or a trimmed hedge will work wonders.
Do a critical inspection of the exterior of your
property, paying special attention to the
condition of your windows, shutters, screens
and gutters. One of the first things a buyer will
notice is the need for painting. If your property
looks like it needs painting, many buyers will
form an unfavorable impression. Elsewhere, little
things count. Make sure the front door is
spotless, including the doorknob, and that the
windows gleam.
Cleanliness Counts
Once inside your property, one of the key
factors that influences its appeal to a buyer is
cleanliness. Most important is front hallway, the
kitchen and the bathrooms. Do a room-by-room
cleaning, and don’t forget any out-of-sight
areas because that’s often where a
discriminating buyer will look first.
The state of the carpets can also be a
determining factor. At the very least, have your
carpets cleaned, and if they are worn, it’s wise
to replace them, or remove them if there is
hardwood underneath.
Less is More
C ! "#kes a poor impression $% &'( ()
cabinets, kitchen countertops and other storage
areas like basements, remove anything not needed
for daily housekeeping. To make each room in your
property look larger, get rid of or donate
unnecessary furniture. Walk through your property
and think: “Less is more.”
Repairs
Make sure everything is in good working order.
Dripping faucets, squeaky steps and loose
doorknobs can easily create a bad impression and
reduce the value of your property. A few hours
spent on repairs, whether by yourself or a
tradesman, can pay big dividends when an offer is
made.
Little Things Count
It’s easy to improve the appearance of any room.
You may want to replace worn rugs or small pillows,
put new towels in the bathroom or brighten up a
room with a vase of flowers.
Pull Together
Get all the members of your household to pull
together when it comes to getting – and keeping –
your property ready to view. By getting everyone
into the habit of spending a few minutes tidying up
every morning for an afternoon showing, you
improve your chances considerably.
BARDELL REAL ESTATE
1622 Pine Ridge DR
Polk, 33896
CMA Map Layout
This page display*
+,- /01 234 +,- 5/6 789;-<+ 0=> y384 <3o10rables.
1
2
3
@
5
1622 Pine Ridge DR
?@A DEFH IJHKM NOJPM
276 Sand Ridge Drive
Q@@R UJFM IJHKM NOJPM
QV@V UJFM IJHKM NOJPM
BARDELL REAL ESTATE