Jacksonville Homes For Sale Lead the Nation in Price Slashes!
This is not the best news! Based on a recent Trulia study, Jacksonville tops the nation in price cutting with 36% of all homes that get listed for sale, end up dropping their price. This tells me those homes were over priced when they were originally put on the market for sale. The Times Union did a story on this.
If you have a home to sell in Jacksonville, FL, do not fall victim to Nostalgia Pricing. Definition: Dreamy price appreciation of 2005.
Instead, price it correctly for today’s real estate market, and watch it sell! The buyers are out, looking, and making offers. They want a Deal! Don’t get passed up by the Buyer who says “Their dreaming” after seeing your asking price.
When we look at waterfront homes in Jacksonville and Ponte Vedra, the average % sold price compared to list price is 11% median for the year. That is far better than 36%. However, this only accounts for the sold waterfront properties. I’m seeing 6 digit price drops on some Jacksonville waterfront homes in order to bring them in line with the current market.
Expectations:Set them appropriately. Homes take longer to sell in this market, but they ARE selling. Is your home waterfront? Waterfront homes in Jacksonville are always in demand, but competition is higher so set those expectations towards longer times on the market.
Professional Jacksonville Real Estate Agent: Find one (like me). Hire them to List your home for sale, but make sure they have a marketing and selling plan that works! By the way, I’m backed by RE/MAX Specialists……..”No one sells more homes than RE/MAX”
Pricing:Be realistic about pricing. Forget about what the homes are priced for around your home, it only matters what they are actually selling for. Price it lower! There is nothing better or stickier than a low priced house! Remember – you want to sell it, not show it for the next year and a half.
Target Marketing: Not your problem! Your Jacksonville Real Estate Agent should be in charge of this! However, it is important to know the trends on who is buying Jacksonville Real Estate and how to Target your Potential Buyers.
Curb Appeal: It’s time to actually put in the work. Weed & Feed, Flowers, Mulch, Window Cleaning, etc. Make it look incredible. If you need help, just Google “Curb Appeal”.
Interior: De-Clutter everything! Ditch the nik-naks. Neutral colors, base board touch ups, Carpet cleaned or replaced, Garage cleaned out & floors painted, etc. Clean-Clean-Clean!
Negotiate: Don’t turn down an offer, negotiate. Remember, buyers want a deal so expect low offers. A low offer on your home doesn’t mean the buyers don’t respect you or your house, it’s just part of selling in a Buyer’s Market. Think like a Buyer.
If you are selling in this market, you are competing against Short Sales, Foreclosures, and Bank Owned Properties in just about every community within Jacksonville. Understand this: It’s about a 99% chance they will beat you on pricing!
So how do you compete? Simple- Be a Better Value!
Jacksonville Real Estate Agent – Jacksonville waterfront homes
Based on a new survey from Zillow, homeowners believe their homes are worth less now than 12 months ago. Zillow’s official numbers point to about 80% of homes ARE worth less now than 12 months ago.
This is not easy for most of us to hear, but most of us do agree. The important information is that your home does have value, but you must price it accordingly when you are ready to sell.
If you are trying to get a value for your Jacksonville home, you have several options:
Zillow for a Zestimate
Jacksonville Realtor for a CMA (Comparable Market Analysis)
Home value estimator from many places on the web.
Licensed Appraiser
In my professional opinion……ALL METHODS ARE FLAWED.
The only true way to value a home is based on what a Buyer is willing to pay for the home. Once under contract, the value is set, and once the home closes, the value goes back to fluctuating.
Pricing your Jacksonville Home For Sale is part science and part strategy. Ultimately, you want the home to sell fast and for the most amount of money with the least amount of stress. Pricing the home correctly from the beginning will help you achieve your goals, but remember prices are down, so be realistic!
Jacksonville waterfront homes have also been hit with value drops. The old saying, “Rising waters raise all boats” should also include “dropping waters drop all boats”. Values are down in waterfront homes, but the demand is always strong.
A look through the long list of homes for sale on MLS today revealed an interesting trend. I’ve started to see listings that state, “Not a Distress Sale”.
I can understand the Realtor wanting to note that the home is not a Short Sale, but in my professional opinion, every home owner who has a home on the market….in today’s market….is motivated to sell!
Those remarks that the Realtors put in MLS often get distributed out to all the Realtor.com, Craigslist, Yahoo Real Estate, and all the other Home Searching web sites. With those remarks, would you want to see the house? Not me!
In this market, I want a FOUR letter word. I want a D-E-A-L!
If you have a home to sell in Jacksonville. Know that the Buyers looking will all want a DEAL. Knowing this, be prepared and heck, market the home as a “DEAL”. If you price it right, have great curb appeal, and are willing to ENTER into negotiations, your home will sell!
If your neighbor is “that guy”. The guy who maintains his home is the best on the block. The best views, the best yard, the best upgrades, etc. He may be right but guess what, he also will scoff at any low offers. “That Guy” becomes irritated with Buyers who want to get a DEAL. And guess what…..his home sits FOREVER!
My professional opinion: If you have a home to sell in this market, understand that you are motivated to sell, and be prepared to negotiate as all Jacksonville Home Buyers want a DEAL!
Jacksonville Realtor and Jacksonville Real Estate Agent
Jacksonville Homes For Sale Lead the Nation in Price Slashes!
