Stop Chasing the Lakeland Real Estate Market
Watching the Lakeland Residential Real Estate market is watching the picture beside me – unorganized and out of control by the sellers. Yes, I said it “The Sellers”.
I’m not talking about sellers who are facing foreclosures or trying to get a short sale approved. I’m talking about the “sellers” who still have enough equity in their home, trying to reach for the impossible – home prices at 2005 level.
Besides the characteristic of Location, Condition, Size and Age of the home, of which is beyond your control. You can control the most important aspect of the home. The price! In my recent conversation with potential sellers, some of the comments were:
- I can drop the price later
- You know that buyers are offering less anyways.
- I want to see what happens first.
- The house next to me is listed for a much higher price
- My house looks better than the house down the street.
Folks, getting the home priced right from the start is the most significant fact of selling your home. Buyers who are interested in your Lakeland home will search your neighborhood until they find the best priced 
home within their search criteria. Look around yourself in your neighborhood, which homes have sold recently and which homes are still on the market? Chances are homes priced well above are still lingering around and will be for month to come.
Ask yourself! Do I want to buy my house again for this price? Or have your friend look at your house and ask the same question - would you buy my house for that price?
How do I price my home correctly?
Funny you asked! You want to research your neighborhood, comparing with homes that are similar to yours. What homes have sold recently, with recently I’m talking about six month back. You also want to stay “ahead of the curve” in this Buyer’s Market.
Let’s say for example, your neighborhood’s average home price; similar to your home is around $250,000. Recent sales average at $225,000, you want to price your home below the homes that have sold recently. Researching and pricing the home right is very tedious and time consuming because you would have to factor in several items, i.e. square feet, pool, fireplace, garage, room addition, etc.
“You must take control of the Real Estate Market. Stop letting the market control you.” Take charge! I’m sure it will bring positive result. The longer you wait and keep chasing the market by reducing the price, the more it will cost you.
Let experience be the best teacher!
There have been times, I put a house on the market and the seller received an offer that was well below the offering price. The seller countered and the buyer did not respond to the counter. After continually reducing the price for months, an offer came in less than the first offer and the seller accepted. Losing on the better deal, the seller had months ago.
If you are interested in speaking with me about pricing or you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com
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Stop Chasing the Lakeland Real Estate Market!
Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker – PO Box 92050 – Lakeland, FL 33804-2050 – Telephone (863) 619-6918
This blog is solely my point of view
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