My home sold so fast I dont know if we are in 2003 or 2009!
I work closely with buyers and sellers of real estate and have had some experiences recently that I want to share. I know that many people out there are scared of listing their homes for sale in this market because “nothing is selling”, “I’d have to give it away at foreclosure prices” or “nobody is buying”! …
Over the next few weeks I am going to share with you a couple of situations in which I successfully sold property for my clients in the fair market (not foreclosure or short sale) this year, hoping that you will find some tips useful to your own situation.
Case Study #1: Home with modern interiors and a pool
If I told you that I listed a home for $600,000 and it sold in two days for full asking price and by the third day I had a backup contract also for full asking price. You probably would think one of two things, either the year is 2003 or I under priced the home considerably. Well, the year was 2009 (April) and the home was appraised by the bank for $605,000. Let me tell you what I believe were the reasons for the success in this sale.
Priced Right from the start- In a market like the one we are currently living in people are still overpricing their homes and that results in low ball offers (25% or more under asking) or no offers at all. Even though the owners of this house wanted to price the house for $650,000 they saw the facts presented by me in the listing presentation and agreed to trust my judgment instead of their own. Notice that if we would’ve priced it were they wanted and had a good offer let’s say at around $625,000 the home would’ve never appraised anyway and it would’ve destroyed the transaction and cost the sellers precious time and money.
Uniqueness– Most homes have something that makes them unique (even if there are identical homes in the neighborhood), it could be the position of the lot or interior design or a specific floor plan. With this home the interior had been extensively renovated in a modern style in a neighborhood is awash with everything but modern homes. It also helped that the lot was larger than most. But I believe that the factor that sold this home was its interiors. The buyer said that she loved the home the way it was and had the same taste than the sellers in terms of finishes in the kitchens and bathrooms. In every other home she had seen in the last 6 months she was going to do an entire renovation.
The bottom line is that it comes down to same old two things: price and marketing. Make sure you find a realtor that knows the neighborhood and that will help you price it correctly, if done correctly you might attract a lot of pent up demand for listings in your neighborhood. And for the marketing make sure that your Realtor will spend time and resources that are available to him/her on marketing your home and not just listing it in the MLS. Always a plus is a Realtor that can identify things in your home that make it unique. Every home has it!
For more information about our brokerage services please contact SoBe Luxury Homes at our websitewww.lg.sobeluxuryhomes.com or on our cell phone at Christian Kawas 305 608 6681.
Back to Blog