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Coconut Grove Homes for Sale

Regardless of timetable, it is important to set yourself apart in any buyer’s market. Although things aren’t nearly as bad for those looking to get out from homes in the South Florida are as they were 8 or 9 years ago during the housing crisis, the Miami area can in some ways still be seen as a buyer-driven market with the amenities a buyer is able to acquire for price out-of-pocket. In a buyer-driven market, how exactly does one sell a home when circumstance need to be fast, and there are several other Coconut Grove homes for sale?

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Setting an Adequate Price Point

The South Florida real estate market is a fluid entity, the homes on the markets change, the residents or tenants change, therefore the neighborhoods also change. Ultimately all of these changes add up to differentiation in home pricing. It is an important facet to consider when selling a home that buyers will generally only pay what a property’s value is when it comes time to buy. Looking at past values can obscure your perspective as a seller, just as attempting to predict the future for profitable real estate opportunities is a gamble for buyers.

When trying to sell a Coconut Grove home quickly, it is important to set a price point that is not only realistic but based upon what your intentions are for the income once you have sold the home. If you plan on purchasing another home for you or your family as a primary domicile once closing on your current property, you would want to price your property somewhere in the ballpark of the property you plan to purchase. It is not uncommon for sellers to become a bit overzealous when considering their prospective income when pricing their home, and end up setting the price point based on this.
To reiterate, it is important to be realistic when pricing your property. If the market value of your home is 700,000 dollars, no buyer is going to making an offer on your home for 1.5 million so you can purchase your new high rise condo on South Beach. You should certainly plan out what you want to invest the capital from the sale of the property in, but buyers will still generally tend to stick to the market value of Coconut Grove homes for sale.

Pricing Coconut Grove Homes for Sale

As soon as your list your home on the real estate market, the home will be at its most viewable. This time is critical when attempting to sell your home. Many sellers will list their homes without fully considering that their home might actually sell for what they are asking for in the attempts to “test the market.” With the dawning of the technological age of the internet, the days of testing, or “dipping one’s toes” into the real estate market are long over.
Any buyer that is serious about purchasing a home will be equipped with a clearly defined idea of what they are looking for in a domicile, a budget, a pre-approval letter for financing, and likely be bolstered by a real estate agent assisting them in a smooth purchasing process. These buyers may like your home, but if entered into the market with too high a price point in the attempt to see what a seller can get for the property will be met with sentiments of “They can’t be serious.” Buyers very rarely will come to a home showing or pursue any sort of interest in a home that they, or their agent, view as being priced too high on the market. The majority of Coconut Grove homes for sale on the market show very little difference in sale price, and it is important not to drive buyers away with an outlandish asking price.

The facets of adequate pricing for a home in South Florida are condition, location, comparable market, what is currently on the market, and what recent sale value is. The real estate market is actually quite similar to the stock market. What is a stock really worth? How do you know that the stock is worth that much? Just like stock market investors, home buyers look at the real estate value of a home. Depending on when you purchased your home, it can be very likely that you paid more for the property than what it is currently worth. The market is indifferent to your plight, however, and it is not usually recommended to attempt to sell a home based upon what the initial purchase price was.

Enlisting a Real Estate Agent to Sell Coconut Grove Homes for Sale

Just like anything we purchase of the shelves at our local grocer, real estate is ultimately a product. Home buyers and the real estate market dictate the true value of a piece of property, and when selling a home in today’s financial climate, it is more important now than ever to adequately price a home.
Pricing and selling are not all that different from the negotiation and purchasing of a home in Coconut Grove, you’re simply on the other side of the negotiations. The process can be long and drawn out, or it can be swift and efficient, circumventing any of the normally associated obstacles and headaches. For many sellers, the optimal course of action is enlisting a qualified real estate agent to handle and oversee the sale of the property.
Steven Vargas is a home-grown real estate agent in the Miami area assisting buyers and sellers with their Coconut Grove properties. Steven specializes in luxury homes and condos and may be the answer you need when trying to sell a home quickly in the South Florida area. For more information on selling Coconut Grove homes for sale, or for any other real estate inquiries, please contact Steven today for more information.
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