Selling A Home In The Fort Lauderdale Real Estate Market for More Money
July 3, 2008
Selling you home in a down market can be quick and easy if you are prepared to do what it takes to entice buyers. It really is that simple. So why aren’t you doing what’s necessary? The first question you need to ask yourself is do you really want to sell your Fort Lauderdale real estate home or condo?
A lot of real estate agents will tell you what you want to hear without really giving you the straight scoop. The single biggest impediment in selling your Fort Lauderdale real estate home or condo may be you. If you don’t take a big bite of the shiny reality apple and understand what your home is truly worth, you may be in for the long haul in trying to sell your home.
Fort Lauderdale and most of South Florida has seen unprecedented price drops in most communities. Your home may not be worth what you think it is and because of that you need to price your home accordingly if you want to sell it.
There is no secret pill, no super real estate agent, no amount of staging..it’s all about the price. While staging, sprucing up the property and having a competent agent may indeed help, you are dead in the water if you do not price the home correctly.
Too many homeowner insist that their properties are different and that their neighbor’s house sold for this or the house around the corner sold for that you have to understand that median prices for existing homes have plummeted over 24 percent in Broward County since late 2005.
Don’t take a short-sighted approach to selling your home or you may be doomed and that mentality could cost you tens of thousands of dollars in an already declining market.
“The worst thing to be in this market is one of those homes that’s been listed for six, eight, 10 months with no consummated deals,” said Beverly Rothstein, a local real estate agent “That’s when the vultures come out, and you have to sell the house at a deep discount that you wouldn’t have had to take if you had priced it right from the beginning.”
(image courtesy of the Sun-Sentinel)
One of the problems that you will be facing in selling your Fort Lauderdale real estatehome or condo is the effect that foreclosures are having in suppressing prices. Banks don’t want to be in the real estate business and they are dumping their foreclosed homes at substantially discounted prices. If you want to compete in today’s market you may be forced to do the same.
If you purchased a home during the recent boom times between 2001 and 2005 you may be in for a shock. We are finding that many homeowners are hopelessly upside down…wherein they owe more than the home is worth. We know some homeowners who owe $200,000.00 or more than the current value of their home.
What you need to pay off your mortgage is irrelevant in determining the value of the home. You can try to sell an upside down home but more than likely it’s not going to work.
CNN commentator Gerri Willis says that with so much available inventory, even beautiful homes won’t attract interest unless buyers perceive value.
“There’s no bigger issue for sellers right now than pricing,” said Willis, host of CNN’s Open House and author of Home Rich: Increasing the Value of the Biggest Investment of Your Life.
“The big question I always get from sellers is, ‘At what point should I be willing to cut my price?’” Willis said. “But that’s the wrong mindset. You’ve got to go into the market at the right price.”
If you want to sell your Fort Lauderdale real estate home or condo and would like a realistic valuation of your home, please feel free to contact me by filling out the contact form below or by calling me at 954-709-7461.
Here some other posts you may find interesting...
Fort Lauderdale Real Estate
Fort Lauderdale Homes And Condos For Sale
If you are interested in learning more about buying a home or condo in Fort Lauderdale or anywhere in South Florida; or if you need any information about the Fort Lauderdale real estate market, please feel free to contact me and it would be my pleasure to assist you.You can contact me at the number shown below or please feel free to contact me by the form below and I, or one of my assistants, will be sure to get right back to you within a few hours, if not sooner.
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Robin Sing-Cunningham
robins@robinashley.com
Access USA Realty
Local Fort Lauderdale | South Florida : 954-709-7461
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Barry Johnson: bjohnson@robinashley.com
