If you have been thinking of selling your St. Petersburg-Clearwater, Florida home, one of the most important questions you may have is, what is my home worth? Below are 3 common mistakes sellers make when they overprice their home – don’t make one of these mistakes.
1. “I want to price it higher than I need to sell it for because the buyers will make a lower offer anyway”
Truth: In today’s market buyers are generally educated by their Realtors and do their own online research so they have a good idea of what the value is of a property. Buyers generally search in increments of $25,000 online, so pricing your house at $235,000, when the value is between $200,000-$225,000, will likely cause you to lose potential buyers. They can’t make you an offer, if they don’t know even know your house is for sale.
2. “I’ll price my home high, and let the market catch up to my price, I’m in no hurry”
Truth: If you want to sell your house, time is not on your side. As of September 30, 2014, the largest number of homes in Pinellas County, Florida sold within the first 30 days (33.5%), followed by homes between 31-60 days (18.80%). Don’t be a homeowner caught with your home still on the market after 60 days, as buyers will start to wonder why your house is not already sold, and may not even want to see it at this point. If you really are not in a hurry to sell your house, then it is best not to put it on the market until you are serious about selling it.
3. “I watch the news and they say the real estate market is hot and prices are are up, I’m not going to give my house away.”
Truth: We are in a healthy real estate market in Pinellas County, Florida right now However, that does not mean that buyers will pay more than market value for your house. In most areas of the county we are in a balanced market, however, it is very important to look at supply and demand in your particular area. We have some areas and price ranges with an excess of inventory making it a “buyers” market, while other areas are in more demand, making them a “sellers” market.
Let us help you navigate this real estate market. We specialize in selling St. Petersburg-Clearwater Florida homes, and our team’s sold listings in 2014 year-to-date, have gone under contract in an average of 17 days. We would be happy to meet with you to discuss your needs and help your price and sell your house fast! Call Deborah Ward & Associates, Keller Williams Gulfside Realty, at 727-216-9247 today!