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Sunday, July 03, 2011

Selling Your Viera Florida Home: Real Estate Pricing Theory in 2011

It does not matter what you call it.  When a home lingers on the market for an extended period of time it can become ostracized a bit by local real estate experts who assume, rightly or wrongly, there is something wrong with the house.

As a real estate listing sits the seller is more likely to receive a low ball offer as prospective buyers figure the seller must be getting desperate.   Buyers almost always ask how long a listing has been on the market when they consider making an offer.

Currently the average number of days on the market in Brevard County, Florida (list date to contract signed date, not closing) is about 122 days.   That is almost four months.   I consider anything longer than 90 as lingering.

There are clues when a home is not priced appropriately.   Check out my 30-10-1 rule as well as the real estate golden period.

When you are ready to place your house on the market consider the "Real Estate Pricing Theory in 2011":
If a good (your house) is difficult to obtain (priced too high), prospective buyers will turn to substitutes (your neighbor's house!).
When you are ready to sell your Brevard County, Florida home, call a real estate agent who specializes in your area.  In Viera, Suntree or Rockledge, Florida, call me at 321-693-3850 or email me if you prefer.

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