How to Set a Competitive Price on Your Waterfront Condo in Key Colony
How to Set a Competitive Price on Your Waterfront Condo in Key Colony
Deciding on the asking price of your home is one of the most crucial decisions you will make when selling your waterfront condo in Key Colony. Why? Because your asking price is probably the single biggest factor that will determine if your home sale will be a success or a failure.
No matter how beautifully staged and attractive your home is, if you list it at the wrong price, you’ll have difficulty selling it.
So if you’re planning on selling your waterfront condo in Key Colony this spring, consider the following tips on how to set a competitive price for your home:
Do your research. To come up with the right listing price, you need to understand the local market conditions. Sometimes, it’s just so tempting to slap on an outrageous price based on the amount you paid for the home when you first bought it and your own personal needs. Don’t. Doing so won’t give you an accurate information on your home’s market value.
In sellers’ market, you’ll have more flexibility with your pricing, but in buyers’ market, you may need to lower your price to attract the interest of potential buyers.
Know the competition. There are plenty of real estate mobile apps that can help you easily obtain this information. Find out about other homes for sale in your area. Know their price range, condition and how long they’ve been on the market.
Although these homes may have different upgrades and amenities to offer, the information you’ll get will give you a fair idea of home much your Key Colony waterfront condo’s worth could be.
You can check out www.MiamiRivieraHomes.com to find out more about comparable homes in your area.
Hire a REALTOR®. Enlist the help of an experienced Key Biscayne REALTOR® who will explain the impact of these market trends on your asking price. Since he or she is most likely active in the local marketplace, you’ll have all the help you need when it comes not only to pricing but with marketing, negotiation and closing as well.
Get a home inspection. Another great tool that would help you come up with a realistic price for your home is by getting a pre-listing inspection. The results will help you know the real condition of your home as well as other factors that can potentially affect its value.
For example, if the inspection results showed that your HVAC system already has some significant wear and tear and needs to be replaced, you should take that into consideration when pricing your home for sale.
Emotionally detach yourself from the property. As difficult as it may be, you need to separate your personal feelings from the sale and try to see the property through the eyes of the buyers. Always remember that potential buyers don’t share the same connection you have with your home. For them, it’s just another house and they won’t pay for your emotional attachment. This is why you need to ask yourself, “If I were a buyer, how much will I be willing to pay for this home?”
When selling your Key Colony Key Biscayne beachfront condo, it is important to set a competitive price at the start of the sale. Doing so will help you get the best possible price and terms and most likely lead to a very successful sale!
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