When most homeowners decide to put their house on the market they usually obtain a price opinion from one or more real estate agents in the area. The agents job is to evaluate what comparable properties have sold in the past six month and make adjustments to those properties for features such a square footage differences, in-ground pool, number of garages and so forth. The same type of adjustments are made for comparable properties that are currently for sale on the market and a recommended listing price is determined.
All too often the homeowner will make the mistake of not listening to the price opinion of the agents and select a price that is too high for this declining market. As the months go by and the property does not sell or even get an offer, the homeowner will start to lower the selling price. In the Bonita Springs area of southwest Florida the selling price of properties is still declining at a rate of about one to two percent per month. So even though the selling price is lowered, it is still relatively high because the market price has also declined. Until the homeowner decides to lower the price to the market level or gets lucky with a buyer who just has to have that home, the property will not sell. This is what I call the real estate limbo dance. Until the selling price is at or under the market price (the limbo stick) the homeowner will not sell the home and win the dance.
Also, homeowners often forget the cost to carry the home during the time it does not sell. The cost to carry includes expenses such as real estate taxes, utility bills, homeowner association dues, etc. So price the house at market from the start and win the real estate limbo dance!
Tags: Bonita Springs Luxury Real Estate, Bonita Springs Real Estate, Gulf Coast Homes, Homes in Bonita Springs FL, Homes in golf communities, Luxury homes in Bonita Springs FL, Luxury Homes in Naples FL
Avg. Sales Price: 379,000
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