(305) 793-1365 restivomiami@gmail.com

Does the Selling Price Fit the Value? What Buyers & Sellers Need to Know

January 21, 2011

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M

I wish Realtors would take their sellers to see competing listings!   Rose colored glasses

If you’re selling your house, have your Realtor show you the top listings competing with your house for buyers.  We’ve been analyzing the closed sales, the sales prices, pricing per square foot … If there are  40 homes  listed for sale in Pinecrest (in the $800,000 – $900,000 price range)  maybe  2-3  will sell in a given month.   The 2-3 homes that offer the most value are most likely the homes that will sell.  The rest will langour.  (And those other sellers will ride the market down, until  price of the property and perceived value mesh.)

If  you are buying a house, and your Realtor is willing to preview and narrow property listings down for you , you can save a whole lot of time and energy.  Yes it helps if you can see what’s out there, but you really don’t need to see it all.   (You want your Realtor to narrow the search for you…  Any good agent will…  Your Realtor just needs to understand what you are looking for and be able to find it!)

And when you’re out there, house hunting, if you do happen fall in love with an overpriced home and you really want to put in an offer on it,  by all mean do put an offer in!   I suggest you  submit your offer along with the recent relevant comparable property sales  that closed within the past 6-8 months (and include currently listed properties … any that would competing for the same type of buyer ).  By showing the seller (and the listing agent) how you came up with your price,  you’ll be in a better position to negotiate.

Alexandra and I  been previewing property for the past 10 days, on behalf of ten buyers (each with different needs and in different price brackets and areas), and I am stunned by the perceived value that  many sellers (and agents) seem to have.   Value is determined by the market …    Market value comes from recent RELEVANT comparable salescompeting listings, property condition and location, and the number of buyers buying.   Looking for a top real estate agent?  If you’re buying or selling property in South Florida, I am happy to help you.

Please don’t hesitate to contact me here or on my cellular at 305 793-1365  whenever you’re ready to buy or sell real estate , whether it’s in Miami… or elsewhere.  (The Restivo Team will also refer you to top real estate agents worldwide …  whether you are relocating internationally, or moving anywhere in the United States.)  We look forward to working with you.  Call any time.

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