Do You Know the Waterfront Areas in Fort Lauderdale

 Truth About The Southeast Residential Real Estate Market

As our market continues to balance we are seeing many changes in our market.  From November 2013 through March 2014 we have seen sales rise in numbers.  These particular months have had some of our best closings since the downturn.

There are currently 211 properties on the market, on and off the water, in the Southeast sector of Fort Lauderdale with very little new inventory coming on the market.  Out of those 211 properties that are for sale, approximately 40% have decresed their original asking prices and some more than once.  Our market is stabalizing and supply and demand are now balancing.  With the decline of new listings, sellers whose homes have not sold are dropping prices in order to create an offer by more showings.

When Seller's are looking to place their properties for sale they need to ask themselves, "What would I pay to buy my home today?"  Homes that are priced right from the beginning sell faster and sell closer to full asking price.  Buyers are much more aggressive and educated in the values of homes with the use of the internet.  Buyers do their homework in today's market many times prior to contacting a REALTOR or  previewing their first house.  Many also take the opportunity to preview homes on Open House so they can get a better idea of value and what their money buys.  Sellers need to take into consideration all comparable sold properties that are similar to theirs as an appraiser would do when pricing them and placing them on the active market.  The average time on the market for a well priced home on and off the water is much less when priced right!

If you are a seller you must ask the right questions before listing and pricing your home:

  • What homes have sold within my neighborhood?
  • Out of the homes sold in my neighborhood which are comparable to mine?
  • What sets my home apart from the other comparable properties?
  • What was the average time on the market?
  • Were the Listing Prices reduced during the listing period?
  • Is there anything I can do to increase the value of my home with a minimal investment?
  • Do you recommend staging?
  • How would you price my home and why?

These are just a few of the important questions you need to ask when pricing your home.  In this unpredictable market you must make sure to price your home so it will sell!  If your home is unique, It is also recommended that you obtain an appriasal from a reputable appriaser which can aid in your pricing decision.

Selling your home is a big step and a Professional REALTOR who offers "Full Service" can walk you through it!

 

 

 

 

 

 

 

 

Posted By - Joy Triglia, Broker - 2 days ago

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