Why Isn't My Florida Home Selling?

Home sales are sluggish, prices are dropping, but buyers still are not making the move! What's up? The number one reason is price - this one is very obvious. Many Southwest Florida sellers still don't accept that the boom of 2005 is over! The days of buyers standing in line to make offers passed with more than a whimper - it was an explosion. So, if your agent and the data say the home is too high - if you truly want to sell you need to lower your price to be more in line with what the market will bear.

Now, that does not mean you must give away your property, but it also doesn't mean that you should expect to double what you paid for it only 3 or 4 years ago either. Most real estate markets are efficient and over time will tell you the real value of your property. So, pricing your home based on this real value is more important than ever.

The second thing sellers must accept is that competition is fierce. Most Florida markets are flush with inventory. Builders have slashed prices on their new construction homes and are offering incentives which many older homes just can't compete with without substantial outlays of funds - upgraded appliances, granite countertops and the latest new flooring options. Add in the "the Florida summer listing" phenomenon, where many owners put their homes on the market just to see if they'll get an offer and the choices buyers have are almost limitless.

So, what are sellers to do? The answers are really simple. Price it right and then focus on the positives that made you want to buy the property in the first place. Clean up, de-clutter, make minor repairs and try to make your home as inviting as possible. And, don't forget the yard! Curb appeal is crucial in today's marketplace.

If your home has been on the market for a substantial period of time and there have been few showings and no offers - you need to re-think your strategy. The sooner you accept the current market conditions, the sooner you will start receiving offers. In fact, many sellers are getting multiple offers. Why? Because the real estate market is always efficient. Every property can and will sell, but those that are priced based on today's real value will sell way ahead of all those that are stuck in the belief its still 2005.

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