A lifetime dear friend of mine just sent me a message on Facebook
I am going to list my house soon, but I am not in a hurry to sell and want to get a lot of $ for it. Advice?
Yes, WAIT! Â Do not list until you are ready to sell!
Right now in Coral Gables, we have 418 single familyÂ homes for sale. Â In the past 30 days, 34 of them sold. Â This means only one in every twelve homes are selling. Â You want to be positioned properly to be one of the twelve. Â The longer the house sits on the market, the more â€œstaleâ€ it becomes. Â (Stale = Â Buyers start to smell blood, think you arenâ€™t serious about selling or wonder what is wrong with the home.)
Iâ€™ve pulled that data to see what homes in Coral GablesÂ are selling for (list to sell ratio) and how quickly.
IF they were one of the one in twelve that did sell, they sold after approximately 114 days on the market and for 91% of list price.
- If they sold in the first 30 days, they sold for 95% of list price
- If they sold in the first 30-60 days, they sold for 92% of list price **
- If they sold in the first 60-90 days, they sold for 87% of list price **
- and if they sold over 90 days, they sold for 86% of list price, after an average of 245 days on the market **
(** the % ratio of â€œlist to soldâ€ is not based on original list price, but onÂ most recent list price, so when you take the 9% higher discount (86% discount if sold over 90 days vs 95% if sold under 30 days) PLUS the price reductions likely to have been taken to finally sell, you see pricing it right in the first place brings the top dollar).
Positioning it right from the start brings the ready willing and able buyers already in the market. Â This encourages multiple offers. Â This makes your listing the belle of the ball. Â You donâ€™t want to be the eleven out of twelve sitting on the sidelines waiting to be asked to dance, you want to be the Belle!
Donâ€™t list your home until you are really ready to sell and then list it properly. Â Prepare it to sell so it looks like a show piece. Â Donâ€™t push the house into the Market before the house (andÂ you)Â are ready or the buyers are going to be taking a whack at you left and right. Â Have the buyers court you, not whack you!
You only have one chance to make a first impression
With so many homes on the market (remember, in a month, only one in twelve are selling in Coral Gables) and new ones hitting the market every day, you only have ONE chance to lure them in for a viewing.
If you are thinking of selling your home and want to know how to get top dollar, give me a call, Iâ€™d love to discuss it with you! 786-252-4970, Janie Coffey, Estate Agent