South Florida Real Estate Happenings

Short Sale Sellers pay attention to your homes selling price

        Short Sale Sellers pay attention to your homes selling price.

Short Sale pricing strategy

Short Sale Sellers in Coral Springs and other South Florida cities must monitor your homes List Price if you want to sell your home and avoid foreclosure. Do not let it happen to you, that your Real Estate Agent ignores your home's price letting it sit on the market months on end without a price reduction.  I see it happening all the time and it's wrong. It's wrong to you as a distressed Seller trying to avoid foreclosure. It's happening because Real Estate Agents aren't looking out for you.

How should a Short Sale Real Estate Agent look out for you? 

  1. First, set a list price based on fair market value which can be determined by looking at other comparable homes within your home's selling area
  2. Make sure that if there has been no activity and no offers on your home then a price reduction must be in order. A 30 day period with no Buyer's offers means the price must be reviewed.
  3. Reduce the price after approximately 30 days to increase showings and in hopes of getting a Buyer's offer. Please keep in mind that this can vary depending upon whether or not you have a fast approaching judgement sale date. Even if a Lender has set a price, your Real Estate Agent needs to go back to them with a market analysis.
  4. Each price reduction can be between 5%-10% depending on comparable sales.
  5. Bingo, a Buyer's offer comes in.

When your Lender reviews an offer that finally comes in they're going to see that your Listing Agent was looking out for you and was trying to get the most for your home and when it didn't happen at the onset they had a strategic plan for reducing the price in order to receive a Buyer's offer. After all, a Short Sale Seller does not have the luxury of time as perhaps a traditional Seller may have because Short Sale Sellers must sell their home; it's not about waiting around until they get a Buyer's offer that they think their home is worth.

Hopefully, you won't have to be in the position to tell your REALTOR to reduce your home's List price, because if they're skilled and knowledgeable in Short Sales, they should have a strategy to get your home sold.

If you're considering selling your home as a Short Sale in Coral Springs and other South Florida cities, ask the Real Estate Agent you're considering how they'll handle pricing your home. If they don't have a strategy, find someone who does.

 

 

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The more you know,  the better prepared, the better the outcome.

Whether you're Selling your home in Coral Springs or Buying your home in Coral Springs or other Southeast Florida cities from Boca Raton south to Miramar, I promise to be on your side working hard for you as your Coral Springs Realtor and South Florida Realor. Helping homeowners with Coral Springs Real Estate and the Real Estate in surrounding cities such as Coral Springs, Coconut Creek, Parkland, Plantation, Pembroke Pines, Margate, Miramar, Tamarac and Sunrise in Broward county to the cities of Boca Raton, Delray Beach and Boynton Beach in Palm Beach county. 

 As your dedicated Coral Springs Realtor, Short Sale Specialist, Keller Williams South Florida Real Estate Agent, Coral Springs Short Sale Realtor, South Florida Short Sale Realtor and CDPE Certified Distressed Property Expert, I'm ready to work hard for you.

 Real Estate Promises Delivered

I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor and Coral Springs Short Sale Realtor 

 

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+LynnPineda

Comment balloon 4 commentsLynn Pineda • January 23 2011 07:13PM
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