The number of single family homes pending in the Venice real estate market jumped in April 2009, up over 116% from 15 months ago from 222 properties pending to 480 properties*, an indicator of buyers interest in the Venice real estate market. Even though the number of homes available for sale in Venice continues to decline, we are still in a Buyer’s market. If you are considering selling your home there are steps you can take to ensure a successful sale.Know Your Competition
Knowing your competition is the key to getting your home sold. If you are not aware of what you are up against you will be dead in the water. In today’s market, your competition (other homes like yours that are currently for sale) is strong and everyone is competing for the same thing; the buyers attention. Start to look at houses for sale from the buyer’s perspective. Find out what your neighbor’s are offering, visit open houses on the weekends, and discover what kind of incentives builders are offering for new homes. Listen to what the buyers are saying and what they are looking for in a home. This will help you prepare your home for sale and give you that needed edge over your competition.
Pricing your home is the key to selling quickly
Internet exposure, curb appeal, the right color of paint, open houses and yard signs – it’s all part of attracting the right buyer. But the right buyers also need to know they’re buying for the right price. Pricing your home correctly from the start is extremely important. Buyers will overlook your home even if it is priced “just a little too high.” You need to realize that today’s market is what it is. You cannot dwell on what your home was worth two years ago, or what your neighbour got for their home six months ago, but focus on what you can get in today’s market. Your home is a commodity and is only worth what buyers are willing to pay for it NOW. If you price your home “just a little high” you will be chasing the market and eventually receive less money for your home that if you priced your home right to begin with.
Turnkey conditions
In a buyer’s market your home needs to be ready for immediate occupancy. Two or three years ago not replacing old and smelly carpets or painting those scuffed up walls was OK. Not in today’s real estate market. Make sure all appliances are in working order, walls are freshly painted, and the yard is well manicured and depersonalize your home so buyers can envision what their stuff will look like in your home.
Be prepared to negotiate
Today’s buyers are savvy, they are doing their homework and know the current real estate market conditions. If you priced your home just 5% to 8% more than you expected to get you should attract multiple buyers which discourages low offers and you will find out pretty quickly if the buyers are willing to pay what you are offering. If a home is priced 10% to 20% higher than the current market is bearing, buyers typically submit low offers with contingencies. If the buyers are getting a mortgage then your home needs to appraise for what you are asking. If the home does not appraise you need to drop the negotiated price or the buyer can walk and loose a willing and able buyer.
Offer incentives
Pricing your home correctly is not the only strategy to getting your home sold. Offering incentives is another way to attract buyers. You can get a creative as you like and I have even seen brand new cars offered to homebuyers. You don’t need to get as crazy as that to bring attention to your home. Some ideas for incentives; offer homebuyers a home warranty, pay for closing cost, pay for discount points towards lower the mortgage rate on buyers loan or offer a golf membership with the sale of your home. Making incentives does not guarantee that your home will be sold but making your home stand out from the crowd will certain increase your chances for a sale.
Contact Kari A. Battaglia, licensed Realtor® in Venice Florida at 941-270-1851 to list your home, answer questions or to help you in your search for homes for sale in Venice Florida. I currently serve customers in Venice Florida, Englewood Florida, Nokomis Florida and Laurel Florida communities. I also have Tennessee properties available in the Chattanooga area. Call me to receive a list of Tennessee properties available for sale.
Contact me by email at Kari@DiscoverVeniceRealEstate.com. Need information fast, call me direct at 941-270-1851. Copyright© 2009. By Kari A. Battaglia, All Rights Reserved.
Kari A. Battaglia, GRI - Realtor®, Broker Associate - Coldwell Banker Residential Real Estate - 331 W Venice Ave., Venice, FL 34285 - 941-270-1851 direct - 941-484-9715 - office 800-969-1990 toll free - Kari@DiscoverVeniceRealEstate.com
www.DiscoverVeniceRealEstate.com - view my listings, find valuable community info, links and more
www.FloridaMoves.com/Kari.Battaglia- free MLS home search, search for Venice real estate, Nokomis real estate, Englewood real estate and more
*All information obtained from data supplied by the Mid-Florida Regional MLS. MLS does not guarantee or responsible for its accuracy. Data maintained by MLS does not reflect all real estate activities in the market. Information is deemed reliable but not guaranteed.
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