Price My House Within 5% Of My Bottom Line? YES!
July 7th, 2010 Categories:Coral Gables Real Estate
If you follow this blog you know that homes in Coral Gables are selling. But we still see some homes that sit on the market for months without a contract. Why aren’t they getting offers? There are 3 simple reasons: PRICE, PRICE and PRICE.
There is a myth out there that you have to build in an extra cushion to leave some negotiating room for those low ball offers. But the truth is that the closer you price your home to its true value the more offers you will get and the higher the offers will be. Buyers these days are very educated about the market and if they are a “real” buyer they will not low-ball a seller because they don’t want to lose the house to another buyer. If it is priced right it will sell quickly and buyers know that.
Take a look at these recent Coral Gables homes which sold very close to asking price:
830 South Alhambra Circle | List Price: $2,499,000 | Sale Price: $2,400,000
61 Riviera Drive | List Price: $1,499,000 | Sale Price: $1,450,000
816 Castile Avenue | List Price: $1,165,000 | Sale Price: $1,085,000
If you are interested in buying or selling real estate in Coral Gables and are looking for an experienced local realtor, please do not hesitate to contact me at 305.342.1623 or send me a note here.
