1100 38th Ave. NE: Sold for $285,000. Initial asking price was $375,000. Realistic price may mean quicker sale See what other homes in your neighborhood are going for. A realistic price point and your willingness to negotiate can make the sale go faster. These two homes are just blocks from each other, on 38th Avenue NE
in St. Petersburg. Each has two bedrooms, two bathrooms
and a dock on the canal. One sold in about 30 days; the other
is still on the market, after more than 300 days. Why?
This could be the worst time in a generation to have to sell a home. But if you have to move, you may have no choice. Still, you can — and must — have a strategy. Much as the market can change, the basic formula for a successful home sale has not: location, condition and price.
Location
Regardless of where you live — or where your lookers need to live — always emphasize the positives. The YMCA is just down the street, easy access to the Interstate and the airport, the monthly block parties thrown by the homeowners association, top-rated schools and convenient day care.
Condition
Question: If the house three doors down from you (the very same floor plan) is for sale at about the same price as yours, and that house looks five times better than yours from the curb and 10 times better inside, what are the chances that a buyer will choose yours?
Answer: You know the answer.
Get your place in top-notch showing condition before you plant a "for sale" sign in the yard. Tame the landscaping, make exterior and interior repairs, de-clutter, deep clean and maintain the home's "model" appearance daily for unexpected showings.
Price
First, establish a realistic asking price. Then start getting used to the idea that you won't sell your home for that price.
Check out the other homes for sale in your neighborhood. How much are they listed for, what kind of condition are they in, what are the personal circumstances behind their sale?
These are all key factors that you need to consider when pricing your home. Finally, find out the price level at which nearby homes actually sold. That will best determine what your home is worth.
Whatever that number is, prepare yourself to accept less than that.
Logan D. Mabe is a freelance writer and licensed Realtor in St. Petersburg.
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