What Does 'Contingency' Mean in a Real Estate Listing?

Realtor.com article featuring Keyes' own Jimmy Branham discusses contingent listings.

In a recent article on realtor.com by Audrey Ference, the topic of what contingency means when dealing with a real estate listing is discussed.

Keyes Company's Jimmy Branham starts off the article  with an explanation on the matter:

'A contingency in a deal means there's something the buyer has to do for the process to go forward, whether that's getting approved for a loan or selling a property they own.'

- Jimmy Branham

The article will explain what other things contingent listings could means and common examples of it. Ference's piece will also explain if you should still make an offer on a contingent listing.

Read the full article here!

Keyes NextGen Q3 number are here, and they're looking good!

Q3 KNG update! The numbers are looking good, keep it up! 

This past quarter we've beat last year's numbers by 15% even with a hurricane in the middle of it. Jason Pappas provides his thoughts on this achievement:

"We are excited to once again see the growth of our Keyes Next Gen associates! Not even a hurricane could stop this group from beating last year’s quarter by over 15% not to mention already surpassing 2016’s total yearly volume.  Our next gen is our future and the Keyes Company believes that helping these under 40 associates succeed is not only necessary for our company, but also our community."

          - Jason Pappas

We are proud and appreciative of everyone's hard work this quarter to make this happen. Quality work lies within the people that make a company, and a company is only a strong as its employees. We are happy to have everyone that works for Keyes part of our family!

Keyes Voted #1 Real Estate company in Port St. Lucie!

Hometown News Readers rank The Keyes Company as #1 in Port St. Lucie! 

The Keyes Company was recently voted #1 real estate company in Port St. Lucie by Hometown News readers. Thank you to each of our customers who gave us the opportunity to earn this award with incredible service. We would be remiss if we didn’t give our Realtors® the recognition they deserve as well. They are on the front lines each day, working with buyers and sellers  helping them navigate a complicated, tricky process. We want to say to each one of you a big  THANK YOU! #KeyesRealtors #KeyesCompany #PortStLucieRealEstate #Itsgoodtobenumber1

The Keyes Company's Nash Group lists H. Wayne Huizenga Jr. lakefront estate.

Stunning Delray Beach residence in the exclusive community, Stonecreek Ranch, enhances Billy Nash's continued dominance in luxury real estate.

Keyes Company's Billy Nash announced the listing of the Huizenga Jr.'s lakefront estate. The asking price for the property is currently set at $6,750,000.

The estate was built 10 years ago, and is on 5 acres of land. It features 7 bedrooms, 10 bathrooms, and a beautiful in-ground pool. The interior was recently renovated by Tim Ellis and Palm Beach luxury designer Annie Santulli of Santulli Designs.

"Billy Nash and his Nash Group are perfectly suited to market this one-of-a-kind home on behalf of the Huizenga family," said Keyes President and CEO Mike Pappas. Nash had earlier closed a $7.5 million sale of a compound at Jack Nicklaus' Bear's Club in Jupiter. 

Billy Nash

Over the last 18 months, Nash has surpassed the $25 million mark in transactions. He has spent nearly 25 years working with and advising ultra-high-net-worth individuals and their families. Nash describes the property as being perfect for hosting large private events or just simply enjoying the South Florida lifestyle with family and friends. "Our team will be generating interest in the property both locally and around the world," says Nash. 

On top of this, Nash is also in the process of marketing a $33 million compound in Key Biscayne for Michael Cohl, the former Chairman of Live Nation and touring manager of the Rolling Stones.

Home mortgages are becoming more affordable and easier to more home buyers now.

First-Time Home Buyers are finding it easer to obtain a mortgage now.

"It's easier than one year or five years ago," said VP of Capital Partners Mortgage, an affiliate of the Keyes Company, when referring to how much easier it is to obtain mortgages. Rates have now changed, before they usually required a 20% down payment, but now could be as low as 3% down.

"Some loans only had a fixed rate for two years, it was predatory; people were set up to fail." said Garcia. Both mortgage companies, Fannie Mae and Freddie Mac offer loans starting with a low 3%, but are limited to $424,100 maximum. However, what is different is that federally backed loans have began to ease up on some of the requirements, acknowledging that many first-time buyers may have high student loan debt.

While loans and mortgages may help, the other issue that is the amount of housing that is able to be afforded by these first-time buyers. Roughly, there is only 16% of homes in South Florida that are under $180,000. Having mortgages that are easier to be eligible for, has allowed for first-time buyers to really get into the market. 

Charlie Weiss, a mortgage broker in Boca Raton stated that nearly 5 years ago, it was almost impossible to get a mortgage with less than 35% down. "Now many companies are getting into the private mortgage business." said Weiss. Believing that this will make it easier for buyers to secure the necessary loan coverage.