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Realty Check – Home sellers lower price
The national and local press continually reminds us that the real estate market is suffering and the inventory of available homes has been inching up. Historically, the summer months have been slow. As we embark into current selling season, there are some basic facts that merit consideration.
Pricing is more critical than ever as current sales indicate a decrease in some neighborhoods to those of 2001-2004. Some of our finest listings, even on Sanibel & Captiva with full Gulf views, are selling for 2001-2002 prices. Remember this - only the finest homes at the very lowest prices are selling.
Please understand that in the current environment, your home will not sell for more than the one on the next street that was in better shape, with more upgrades, and/or with waterfront access. If you are serious about selling your home, I urge you to do everything possible to make your home “model” perfect. Buyers are smarter and more knowledgeable than ever. They realize that it is a BUYER’S MARKET.
Try to keep a level head as we all deal with these difficult times. I began selling real estate in 1988 and I have gone through the slow, medium and fast paced markets. What we can do is to analyze each of our selling situations and do the best we can with the situation we are in.
On a positive note, the present economy can not take away our great weather or the fact that every nine minutes someone in the United States will retire (become 60 years old) and be looking for a great place to spend all or part of the year. The lifestyle and weather still appeals to many Buyers.
With this in mind, please do not ignore offers from qualified buyers. Many of you who received offers last year probably wish that you would have taken the offer. Do not get stuck in the mindset of "my property does not fall into this category.” We are all part of the same Lee County market. If you can afford or make a decision to hold on to your property for the next 5-10 years, then you are in a different category. You don''t need to sell.
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