Prices have finally started to come back to levels where you could have some equity in your property, making it a good time to sell. There are several ways to help you realize the highest dollar which I’ll share here:
- Time the market as best as possible. If a few of your neighbors are trying to sell their homes right now, you might be best served to wait and not list it for sale. There’s no point in flooding the market with a surplus. Selling is all about supply and demand. The less supply, the more likely you’ll be to get a buyer to pay more for your home. However, if your competition is priced high, you might be able to come in and price your home lower than theirs and yield a quick sale. Buyers will easily notice the value in yours when compared to the others. Use either tactic depending on your situation.
- With rising prices, don’t be too tempted to price your home above recent sales. Our market is improving, but still fragile. If you go too high on the list price, it’s easy to slow down the process and cause your home to sit on the market. It’s best to price the home competitively and garner multiple bids from buyers and create a frenzy over it. There’s always more demand for well-priced homes!
- If you are at the lower end of the market, sell your property quickly. Don’t be too greedy and wait out too long. Right now there are a lot of investors driving our market by buying up short sales, foreclosures, and well-priced properties. They are renting them out and holding them as cash-flow properties. There are several private equity firms that are also now buying hundreds of properties to hold as cash flow investments. Sell it while they want it!
- Make those repairs you’ve been meaning to. If there are known defects with the home, take care of them – a leaky roof or sliding doors that don’t work, for example. Buyers are picky in today’s market and will want things repaired prior to closing, so you might as well fix them now. It will increase your chances of getting a better buyer.
- Watch out for low appraisals. Make sure the appraiser is aware of all the upgrades to the home and all the recent closed sales. Oftentimes appraisers are not that familiar with a certain subdivision because they cover large territories and sharing your local knowledge with them helps them find the comparables they need to give your home an accurate value. You cannot influence them, but you can point out facts that will help them in their assessment.
Good luck selling and take advantage of today’s market!
Gabe Mellein was voted a Top Real Estate Agent – Exceptional in Service and Overall Satisfaction by Gulfshore Life Magazine in 2012 and 2013. He is the broker of Gulf Pointe Properties, Inc and has over 9 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate. Need real estate help? Please contact Gabe at: 239.825.2234, Gabe@GulfPointeProperties.com or www.GulfPointeProperties.com