If you are selling your home, or thinking about selling, please please PLEASE for the love of all that is holy READ this and commit it to memory!
Face facts. The consensus is in. The real estate market is the worst it’s been in decades. What’s more, there isn’t going to be a miracle ‘V’ recovery, so say many economists. When the market does recover, house appreciation will be slow and steady. Even then, it’s unlikely the market will regain full value for at least 10 years or more.
Now is NOT the time to make a killing. Got a lake property? An estate? Acreage? A ritzy house in a ‘to-die-for’ suburb. Think the land is worth more than the house? Own a unique property that only a select few would be interested in purchasing? Counting on a tear-down opportunity? These days, buyers aren’t in the mood for speculating. They’re looking for houses in tip-top condition that won’t lose value down the line.
Don’t fight the market. Not only is the market is too strong for any one homeowner to combat, it can’t be fought or outsmarted.
Not all MLS listings are created alike. While the attraction of saving commission with a discount broker is appealing, in today’s market every property needs TLC and full marketing support. National companies spend big bucks to appear at the top of popular real estate Web sites, and for good reason. The more buyers they can attract to their listings, the better their sales.
Stop thinking you know more than your real estate agent. The best agents live with real estate 7 days a week, 24 hours a day. They eat, drink, sleep, and even dream real estate. When you think you know better than your agent, ask yourself this question: How much time lately have I spent studying the real estate market? If your answer is less than 12 hours a day, then you really don’t know anything.
Don’t try to convince yourself that your house is the exception to the rule. EVERY HOUSE has been affected by this ‘Buyer’s Market of all Buyer’s Markets’. Even yours!
Price your house competitively. And if, after a reasonable amount of time, the price doesn’t generate enough showings, lower it. Not just once or twice, but tenaciously ... about 1 to 2% every month. There’s nothing worse for a homeowner’s morale than to have a house sit on the market with absolutely no interest and no buyers.
Don’t leave negotiation room in the list price. Usually the ‘negotiation zone’ is exactly the amount that will keep a buyer from seriously considering your house. When a house is overpriced, buyers are convinced the sellers are not only being unrealistic but will dig in their heels during negotiations. Because of that, many a buyer — who might otherwise love your house — won’t even try to make an offer.
Think like a buyer. You were a buyer once, remember? When you were on the other side, didn’t you approach the purchase with the idea that there was no way you were going to pay more for the house than it was worth? Guess what? The buyer of your house is thinking exactly the same way.
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Proudly selling real estate in Oviedo, East Orlando, Winter Springs, Lake Mary, City of Orlando, Maitland & Winter Park
Neighborhoods in Oviedo - Aloma Woods, Bentley Woods, Little Creek, Kingsbridge, Riverside at Twin Rivers, Alafaya Woods, Live Oak Reserve and many other others
Neighborhoods in East Orlando - Avalon Park, Eastwood, Stoneybrook, Waterford, Cypress Springs and many others
Neighborhoods in Winter Springs - Tuscawilla, Parkstone and many others
Neighborhoods in Lake Mary - Heathrow, Magnolia Plantation, Timacuan, Woldunn and many others
Neighborhoods in the City of Orlando - Baldwin Park, Lake Nona, Delaney Park, Thornton Park, College Park, Colonialtown, Audubon Park and many others
Neighborhoods in Maitland - Dommerich Estates, Lake Sybelia, Lake Colony, Maitland Club, Maitland Forest, Minnehaha Shores, Stonehill and many others
Neighborhoods in Winter Park - Comstock Park, Lake Knowles Terrace, Sylvan Lake Shores, Charmont, Orwin Manor and many others
Florida Licensed Sales Associate, REALTOR®
Coldwell Banker Residential Real Estate
521 E Mitchell Hammock Road
Oviedo, FL 32765
Specializing in Short Sales and Luxury/Lake Properties
To put your home on the market, please feel free to reach me direct at (407) 227-7763.