I have been preaching for weeks that housing is still overpriced by 10 percent - 15 percent. I have been vindicated! That was the theme of several business television shows on Monday. In fact, they were talking the same numbers.
If you don't really need to sell, TAKE IT OFF THE MARKET! You are not creating an opportunity to buy, only causing the marketplace to be over saturated with property for sale. (See Below) If you HAVE TO SELL, then follow these tips. First, hire a realtor who has the knowledge and experience to deal with your personal situation. By this I mean are you facing a foreclosure, a death in the family or an illness. Second, and just as important, is pricing your home competitively. Very competitively. If you and your realtor disagree on a listing price then hold off on the listing.
Why you ask? It is very simple and smart. Spend the $300 - $350 dollars and hire an independent real estate appraiser that is very familiar with the beach communities. It will be the best money you've ever spent. Just remember, even though there are 100 units in your condo or the same amount of homes in your development, not all are created equal.
When the appraisal is completed, list your property at 3 percent to 5 percent below the appraised amount. Use the appraisal as a sales tool. Finally, offer a 6 percent or 7 percent commission and sit back and watch your property sell. An extra 1 percent commission on a $500,000 dollar unit equals $5,000. In today's world that equals one month of mortgage, insurance, taxes and monthly maintenance. This is not rocket science.
As previously referenced, here are the ugly numbers for areas 476, 477 and 478 for April 1 through April 30th. GULP! Condos on the market for sale number 839 with 16 under contract and 20 sold. Single family homes in the same areas are as follows: 186 for sale, 12 under contract and 7 sold.
I think my idea makes $ense!
Ric Cornelius is the Broker/Manager of Sand Key Realty Sales and Rentals, Inc. Sand Key Realty has three offices with 40 agents. One office is at 740 S. Gulfview Blvd., Clearwater Beach, 727-443-0032; the second office is at 2701 Gulf Blvd., Indian Rocks Beach, 727-595-5441; and the third office is at 309 Belleview Blvd., Belleair, 727-461-4200.