You want to sell your property in today’s market?
The very first thing you should do is take a good look at comparable homes or condos in your area that sold in the last few months.
Like in many place in the country, in St. Petersburg Tampabay the market has changed a lot. The competition is huge. You can see for sale signs everywhere.
Only properties that are priced right meaning fair market value will sell.
What is fair market value? Big question with an easy answer.
It is what someone is willing to pay for the property.
If your neighbors condo sold for $200,000 and your unit is right next floor, same square footage, same age, same view, etc. than it is fair to say that in a market like this your will sell for $200,000 or less, but not higher than this.
Before you put your unit on the market, do the reality check, have your realtor pull the comps and take a hard look at them.
Just because you have nicer furniture or your carpet is 2 years younger or you have better light fixtures, does not mean you will get one penny more than your neighbor.
I know, sellers do not want to hear this, but if you are not prices competitive, your property will stay on the market forever and most likely go down in price even more.
You loose time and money and buyers who will just by the property next door.
So, thinking you can try a high price and reduce it later is not working anymore, these times are gone.
It is a buyer’s market and trust me, they know it !