Looking through the local Mid Florida Regional MLS I see prices all over the board, it should be expected for different types of homes but for the same models, sq footage, bedrooms and baths? Short sales, pre foreclosures, bank owned and just your everyday motivated seller, homes are listed at different prices. Talking to sellers and believe it or not some agents, they have a difficult time finding a list price in today’s market. Do sellers have an excuses YES of course they don’t work everyday in the real estate market but agents, NO.
Sure it’s a buyers market and sure sellers don’t have a lot of leverage but you can price a home correctly without giving it away. Some sellers are stuck because they are upside down (owe more then the home is worth) but talking to sellers the past year they are hungry for accurate information so that they can make sound decisions.
I received my VFR (visual Flight Rules) pilots licences a few years ago and went on to get my IFR (Instrument Fright Rules) license shortly there after. When flying (I’m going some where with this) IFR my precision was just so much better piloting a plane. Always cross checking instruments to make sure they are all working. What would happen if I was flying in the clouds and adjusting my altitude only looking at a broken altimeter. Of course I would not be at the correct altitude and most likely on a collision course with another plane. The same can be said of pricing a home. There are a few different ways to look at where a home should be listed.
In residential real estate agents are taught how to do a comparative market analysis CMA. Comparing like properties and making adjustments to come up with a CMA. As a seller you need to be brutally honest on where you home should be listed. In a strong buyers market being priced closer to where you are going to sell and staying firm on your price is the best strategy. In contrast in a sellers market you can make mistakes in over pricing, you will still get showings because of the lack of inventory (2000-2004) and to follow are offers. Over pricing in a buyers market will get you neither.
Cross check your list price, with at least two Realtors and please do not choose a Realtor that gives you the highest value for your home but hire on who has the marketing that will get you the greatest exposure. Maximum exposure will get you more buyers resulting in more offers and end up giving you the best terms and conditions.
Let Century 21 home to TeamConnect find your list price in today’s real estate market. Dr Phillips real estate Home Values and Central Florida home values.
