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Tuesday, November 04, 2008

Pricing Your Home to Sell - Optimism and Realism

Some sellers are still in denial even at this point in Brevard County Florida's housing down turn. I just got through reviewing some listings in one specific Viera subdivision that I received an email inquiry about. I was astounded (is that too strong?) to see the prices ranging over $50,000 for the same properties on the same street!

Optimism is a great thing, for sure. Realism is even more admirable!

Pricing competitively is key. Pricing in the ball park is necessary if you want to be in the game! With a little over 6,000 listings active in the Brevard MLS it is easy for a buyer to cull out these outliers.

There are a lot of homes for sale. If you want to be in the game, you must be somewhere near the competing properties. How does one establish a listing price?

It is necessary to compare what is selling (sold) that are similar to your property. Some of the factors to consider include:

  • Age

  • Type of Construction

  • Living area (under air conditioning)

  • location (subdivision, close proximity)

  • Total square footage

  • Pool/spa or other amenities

  • Roof type (tile vs asphalt shingles)

  • Gated community

  • Golf course or on water

Things to not consider or weigh heavily:

  • Price paid for the property

Establishing a list price must be based on the facts, not emotional attachment. What a property will sell for will be set by the market.

If you are considering selling your Viera or Rockledge home, please give me a call. I would welcome a chance to discuss a marketing strategy for your property.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

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