Selling a Palm Beach Florida home is not quite the cakewalk it once was a few years ago. Today the seller needs to do extensive legwork in order to properly price a property so that it appeals to sellers who are quite picky about where they choose to buy and invest.
One would assume that with all the details involved in home selling, homeowners would be more than willing to adapt to ever-changing circumstances and market conditions but things seem to be showing that they’re remaining stubborn when it comes to selling flexibility. The general belief among these more stubborn sellers is that because they own a Palm Beach home by the ocean, they can name whatever price they want and a buyer will meet such a price. Real estate market conditions tend to show otherwise.
One of the purposes of a real estate agent is to get your property sold by pricing competitively yet many sellers tend to disregard this competitive pricing advice and insist on sticking to a fixed value since after all, the property being sold isn’t just another two bedroom single family home in the heart of the city. This is definitely understandable but if we take a look at buying and selling trends, it may be disadvantageous.
Let’s assume the properties in the area carry a value of about $250,000 and contain most of the same features in the home being sold. Listing for $300,000 because the home looks nicer or perhaps has a pool is counter effective. The buyer will more than likely make an offer for one of the lower priced properties.
The more buyers that ignore the property, the more time it spends on the sale market which leads to a perceived drop in quality even though it may be in optimum condition. If a foreclosure home pops up in or around the neighborhood it will also drive down values. Therefore, take the time to price realistically. Finding a buyer in a short time is a lot better than losing more money as time goes by.
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