The Door County real estate market is no different than the stock market, and we remind our clients of this fact daily. In fact, the only constant in our market is actually change. The market changes daily, weekly and monthly based on new listings and where they are priced, and the actual sales that come onto the market each week.
The demand for realistically-priced properties in Door County, Wisconsin is extremely significant right now for several reasons:
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Properties with financing need to appraise out (and cash sales may contain appraisal contingencies, too).
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Properties that are well-priced spend SIGNIFICANTLY less time on market, command close to full price (and may actually receive multiple offers); and
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Buyers are looking to work with Brokers with a realistic picture of the market and market conditions.
While as a listing agent, I wish ALL of my properties could be million dollar properties, the reality is that they are not. Properties need to be properly priced to sell, and I appreciate the Sellers who listen to me and read our reports weekly as to Door County real estate market conditions, and look at our monthly reports.
My biggest fear is overpricing a property. Overpricing means I am spending my hard-earned money on a weekly basis on something that is frustrating to both me and my clients---the listings that get no showings, and no offers. Some Sellers ask, when advised listing price is high, to “bring us low-ball offers!” Well, we can’t bring low-ball offers if we can’t get buyers in the door, because the property is overpriced.
We do extensive Comparative Market Analyses on ALL of our properties, and advise our clients weekly of market conditions, but the realism is that the appraisal you had done in 2010 is NOT applicable to today’s market. Your Estimated Market Value as given on your tax bill is NOT necessarily your true market value---that is a snapshot in time of the last time the appraiser looked at your property.
Properly priced properties for sale in Door County sell. They don't sit, they SELL. And we have had many low sales in 2014 because Sellers are realizing that our market is still declining in the number of sales, although prices have risen in some market segments in Door County. It’s a great time to be a buyer, because we have a lot of inventory. That being said, you would think that Sellers would realize that they are in competition with a lot of inventory (some of this inventory has been on market for years)…but some Sellers only hear what they want to hear. Data and facts make no difference.
Is it time to Sell your Door County property? Please contact us for a Door County Comparative Market Analysis today. And if you want to review the entire DoorCounty Multiple Listing Service to see other homes that are similar to yours in size, location, age, number of bedrooms and baths, visit our website at door-county-properties.com
Our goal is not to list, our goal is to sell.
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