'Meet the Agent' - Sarah Faiella from Coldwell Banker Bermuda Realty

This month for 'Meet the Agent' we interview Sarah Faiella, a Real Estate Sales Representative at Coldwell Banker Bermuda Realty. Sarah discusses the current property market and where she is seeing activity, top tips for property buyers when starting their search and also Sarah's best value and favourite listings on the market currently. 

How long have you been in the business? 8 years – I started in Property Management, then transitioned into Real Estate Assist/Agent to the President and Agency Manager, finally evolving into the role of a Sales Agent in 2015.

Why do you like working for Coldwell Banker and what’s the favourite part of your job? For so many reasons! I like the structure of Coldwell Banker, and the fact that we are made up of all elements of real estate service. From Appraisals to Property Management and everything in between, we are a one stop shop and have access to a vast spectrum of knowledge/information that we share amongst each other. My favourite part of the job is the close – and not because that’s when I get paid! There are so many little successes leading up to the moment when you have successfully done your job and either sold someone’s house or found someone the home of their dreams. So that moment when it is all official and everyone is excited and celebrating is my favourite part.

Where are you seeing activity in the market at the moment? Most demand is for standalone homes in central locations. I am seeing lots of activity from buyers looking at around the $1M range up to around $2.5M. There is also activity from first time buyers looking to take advantage of lower prices combined with affordable mortgage terms.

What is your favorite property on the market right now?

Ardsheal Cottage  – wow! No further explanation needed! See attached link… https://www.propertyskipper.com/property/clba_8376_ardsheal_cottage

What property on the market right now, in your opinion, do you think is really good value? Twin Gables – you are buying 3 houses, close to town, immaculately kept. There is so much you could do with this property. See attached link: https://www.propertyskipper.com/property/clba_8373_twin_cables

How do you see the Bermuda property market in 2018? I think we are going to continue to see strength in certain market segments. There are great opportunities for first time buyers, which I think many people are noticing and taking advantage of. And the high end market ($2M+) seems to be maintaining strength as well. I think as long as confidence maintains buyers are going to continue to jump on real estate opportunities here. Who wouldn’t want to own property in Bermuda?

What are your top 3 tips for purchasers when looking for a potential new home?

  1. Get pre-approved FIRST! Otherwise it can be a waste of time for everyone, and disappointing for the buyer. Also, with so many cash buyers you want to ensure you are armed as best you can be with your purchasing power.
  2. Take another person with you to look at property that you want to make an offer on. It’s always nice to have another set of eyes to give you a full lookover of a property before you make an offer on it.
  3. Don’t assume a property is going to wait for you. If you find something you love act quickly. The market is active and if you love something it is likely that another buyer does too.

Finally – do you have any good tips for sellers when preparing their home for sale?

1.    Listen to your agent!
2.    Present the property as best you can and in a way that will appeal to the most buyers. Even the simplest touches – a coat of paint, new light fixtures or cupboard knobs - go a long way and are worth the effort.
3.    Have the property boundaries staked, and identify any areas that might be a potential concern for a buyer, i.e. a large retaining wall that looks questionable, a tree root growing obviously near the house, etc. Being able to offer a solution, and being able to put a price on it will alleviate uncertainties for buyers and will also avoid them making assumptions on astronomical costs to rectify these things, and thus making lower offers to accommodate these uncertain costs.

To Contact Sarah - call +1 (441) 247-1832

or e-mail: sfaiella@brcl.bm

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