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Most deals fall apart during the inspection period. Here's what's really driving buyers to walk away, and the seller moves that keep a contract together.

More sellers are getting the call nobody wants: the one where the buyer is walking away. It usually comes a few days after going under contract, right in the middle of the inspection period, and it can feel like it came out of nowhere. Across Southeast Florida, we're seeing it happen more often than we did a few years ago.

Buyers have more options now. Since COVID, our market has become a bit more of a buyer's market. A buyer's market doesn't automatically mean prices have dropped. It means buyers have more homes to choose from and more say in how the transaction goes. Depending on the situation, some of them are looking for any reason to get out.

The inspection period is the exit. Most of the fallout lands there, because a buyer can cancel for almost any reason during those first few days. A deal that looked solid can unravel over a report, and often the report is just the excuse a hesitant buyer was waiting for.

Buyers weigh affordability and value. When a buyer is teetering, they're really answering two questions. The first is whether they can afford the property, because if they can't, they aren't buying it. The second is whether the property is worth what it costs to own right now, with interest rates around 7% and insurance and taxes where they are. If either answer comes back shaky, the inspection gives them a clean way out.

"Say no to everything, and you hand the buyer a reason to walk."

Handle the small stuff before listing. The issues you already know about are the same ones that show up in the inspection report, so get them handled while you still control the timeline. When something does come up anyway, be open to taking care of the minor items or offering a credit back so the buyer can handle it themselves. A small gesture at that point is often what gets things done.

Saying no to everything backfires. Sometimes it looks like the buyer is throwing a lot at us, and part of our job is translating that for our sellers. Some of it is genuinely nitpicky. We get into trouble in how we respond to those requests. If the answer to every ask is no, the buyer starts looking for the door.

A good agent talks logic. You hire an agent for exactly this reason. We're the middleman, the liaison between everybody in the transaction, and a big part of that is taking all the emotion out of it. There are always going to be curveballs, and it's our job to work through them, negotiate through them, and wear the white glove so the problems don't land on you.

Don't take it personally. Staying open-minded through the inspection period is what keeps a contract alive. Plenty of things can get thrown at a transaction. The deals that survive are usually the ones where everybody keeps emotions down and stays logical about getting to the closing table.

If you're thinking about selling and you want to know exactly what to handle before you list, we'd love to come by for a free consultation. We'll sit down with you, walk the property, and put together a plan to get your home sold. Call or text us at 561-220-2052, email info@tricoliteam.com, or visit www.tricoliteam.com. We're happy to walk you through the whole process.

The Fed just raised rates to fight inflation, and mortgage rates followed into the low 7s. Here's what that means for Southeast Florida buyers and sellers.

Any time the Fed raises interest rates, homeowners across Southeast Florida start asking what it means for their home and whether it's still a good time to sell. The Fed's latest rate hike came in response to inflation that's still running high, since raising rates is how the government works to cool it down. If you've been thinking about listing, the real question is how this reaches your buyers and your sale.

The Fed moves short-term rates, not mortgages. The Fed controls short-term rates, while the 30-year mortgage rate takes its cues from long-term bonds. The two are still connected, and when those longer rates rise, mortgage rates rise with them. We think much of this hike was already priced in before it was announced.

"There's no hurdle in this market we can't work through to get the deal done."

Rates have already moved into the 7s. Over the past few weeks, we've watched mortgage rates climb into the low 7s. For most of last year, they hovered somewhere in the low to mid 6s, so buyers are feeling that jump in their monthly payments.

Southeast Florida demand is holding strong. The great thing about our market is how desirable it is to live here. People want to move here, especially during the colder months when everyone's trying to get away from the snow and the cold weather. Inventory has stayed relatively low overall, and people are still moving in.

Higher payments call for creative deals. When rates go up, affordability and mortgage payments go up for buyers too, so some deals take a little more creativity to put together. Our team is still selling between 30 and 40 homes a month. We still market every home and know how to get it in front of as many buyers as possible, because there are still buyers out there. Affordability's a bit more challenging right now, but there's no hurdle we can't work through to get the deal done.

If you're thinking about selling and want to know how these rate hikes could affect your home sale, we'd love to set up a free consultation. Call or text us at 561-220-2052, email us at info@tricoliteam.com, or visit tricoliteam.com. We look forward to walking through it with you.

Special assessments, insurance, and reserve rules are reshaping what condos cost in Southeast Florida. Here's what buyers and sellers need to know before making a move.

If you're thinking about buying or selling a condo in Southeast Florida, there are costs working behind the scenes that can catch you off guard. We're seeing three of them collide right now, and they're affecting buyers and sellers alike, because at the end of the day, every one of them lands back on the homeowner. Here's what's driving up the cost of condo ownership in our market and why association dues keep climbing.

1. Special assessments are on the rise. Since the state introduced milestone inspections and structural reviews for condos three stories and higher, the cost of keeping these buildings compliant has climbed. When one of these reports comes back showing work that needs to be done, it typically gets tacked on as a special assessment to each homeowner. That's causing real concern for a lot of condo owners, because whether you're the seller or the potential buyer, that added cost becomes part of the equation.

2. Insurance costs keep climbing. Over the past few years, insurance has gotten significantly more expensive, especially closer to the ocean where there's more maintenance on many of these buildings. As those premiums rise, they flow straight into the association dues, and that higher monthly number is one more thing buyers and sellers have to account for. It's a big part of why selling a home in this market takes a clear strategy right now.

"Special assessments, insurance, and reserves are all colliding, and it lands on the homeowner."

3. Reserve requirements are tightening. Lenders are raising the bar on what they require condo associations to hold in their budgets. We're starting to see partial reviews of associations go away, replaced by full reviews, and one of the biggest things lenders look at is the budget and how much each association holds in reserves. Between the higher reserve targets and the rising cost of everyday items like maintenance workers and landscapers, the amount associations need to set aside has gone up, and that flows back down to the homeowner too. If you're weighing a purchase and a sale at the same time, it's worth knowing how to buy and sell together in Southeast Florida so the timing works in your favor.

All three are colliding at once. Special assessments, insurance, and reserve requirements are hitting the same associations simultaneously, and together they're pushing dues higher across Southeast Florida. For a buyer, that means looking closely at an association's financial health before you commit. For a seller, it means understanding how these costs shape your pricing and knowing what you're required to disclose before you list. It also connects to what today's condo buyers are really weighing when they decide whether to move forward.

If you want to know more about selling your home or buying a condo and how all of this applies to your personal situation, we'd love to talk it through with you. Call or text us at 561-220-2052, email us at info@tricoliteam.com, or visit tricoliteam.com. We're happy to walk you through what it means for your next move.

The builder's sales team works for the builder, not for you. Here's how having your own agent can save you money and protect you through the whole process.

We've been getting a lot of calls lately from buyers in Southeast Florida who are ready to buy a home and have already walked into a builder or new construction community on their own. So before you do that, we want to stop you for a second: contact a Realtor, contact us first. There's a lot we can do to help you through this process, and it starts before you ever step into that sales office.

The builder's salespeople represent the builder. Here's the big misconception. You can go directly to the builder or the new construction community, and yes, you're allowed to do that. But the people you're dealing with there are salespeople who represent the sales community and the builder. Bringing in your own Realtor has no negative bearing on the process at all. If anything, it works in your favor, because there's a lot we can do that the builder's team simply won't do for you. The on-site agent works for the builder, so having your own representation when buying a new build puts someone in your corner.

We can compare communities and negotiate for you. When you work with us, we can explain how one community stacks up against others, take you to see those other communities, and represent you from beginning to end. We'll let you know about any incentives a builder may have, and we can actually negotiate some of those in the form of credits, possibly better interest rates, incentives back to you, or even lower prices. There's a lot on the table that most buyers never think to ask for, and that's exactly the kind of thing we handle. If you're weighing a new build against existing homes, it's a bit like buying and selling at the same time, where having a plan and an advocate makes all the difference in your outcome.

"You can go straight to the builder, but their salespeople represent the builder, not you."

Every builder's contract is different. Every builder has its own contract, its own warranties, and its own upgrades and pricing. That's a lot to sort through on your own, and we help you work through all of it. At the end of the day, allowing us to represent you usually means you either get more money back or save money throughout the process. So before you walk into that new construction community, give us a call and let us know. We'll go in there with you and guide you from start to finish.

We stay on it through inspection and closing. Representation doesn't stop at the contract. We still make sure you get an inspection and that a proper punch list gets done. A lot of people don't realize how many things we can get the builder to take care of before closing, so everything is finished to your satisfaction. That's the part buyers going in alone tend to miss, and it's one of the biggest reasons to have your own agent through the whole build.

We also wanted to mention that we personally have four homes remaining at Symphony Place in West Palm Beach, real close to the airport. These are beautiful homes with nice open floor plans, four bedrooms, two and a half baths, a two-car garage, and all impact windows. We have four left out of 40, priced at $599,900, so for just under $600,000, you can get a brand new home here. If that interests you at all, or if there's any new construction anywhere in Southeast Florida you'd like to explore, we can certainly help you through it. Whether it's a new build or an existing home, our Southeast Florida market expertise is here to work for you.

If you're thinking about new construction and want someone in your corner who can negotiate on your behalf and protect you through every step, we'd love to help you put a plan together. Give us a call or text at 561-220-2052, email us at info@tricoliteam.com, or visit tricoliteam.com. We look forward to helping you find the right home.