You’re thinking about selling your Fort Myers Beach Home. At some point you will need to decide on a listing price. If it is too high you won’t get any potential buyers. If you price it too low you will get plenty of buyers and sell quickly ! Deciding where to price position your home is always tough – even tougher in this brutal market !
Pricing a Fort Myers Beach Home To Sell - Help !
Our current market officially became a sellers’ market in December of 2005. Since then property values have dropped year over year every year since. Many thought this market would last only 2-3 years. Some now privately say that a measurable recovery will not happen until 2013 – 2015. Yikes ! What’s a homeowner to do ? As a Fort Myers Beach Realtor I offer these tools which may help in your pricing deliberations. Consider the following:
1. Have your Realtor provide all ” SOLD ” comps for your immediate area. Select one on the same street or the closest street possible if there are no recent sold comps on your street .
2. In this market using only one comp, if it is close by, fairly recent and as similar to your house as possible, is acceptable for pricing purposes. “Fairly recent” usually means 30 – 90 days .
3. Don’t try to manipulate the numbers. When in doubt ask your Realtor to adjust the price to reflect advantages unique to your Fort Myers Beach property and also make downward adjustments when the ” SOLD ” comp has an advantage over your property.
4. As the seller you are allowed input into this exercise. However, your Realtor knows the market and how the listing price helps generate showings and offers ! Trust your Fort Myers Beach Realtor in these matters - or get one you do trust !
5. Finally: Here are some telltale signs that you are about to overprice your home:
a. My neighbor just sold their home at the price I’m considering ! (Neighbors house has more bedrooms ,attached garage !)
b. I paid $450k and need $500k just to break even ! (The appraisal came back at $335k why would a buyer pay more ? )
c. I added a 2nd mortgage to pay for college and need to cover that also. ( You used your home as an ATM machine, sorry ! )
d. The house next door sold for $200k above your suggested list price ! ( Yes it did, in May of 2006. )
Take Away: Price Your Fort Myers Beach Home To Sell – Now !!!
Look at the comps, trust your Realtors’ advice, price for today !
Fort Myers Real Estate Specialist
I wasn’t born on Fort Myers Beach but I got here as soon as I could !!!
Buying, selling : put a tough negotiator to work for you. Hard work, long hours, no surprises !