However; we are experiencing very low inventory and the market has shifted into a seller's market. On a home priced at fair market value, we are seeing bidding wars and multiple offers of upwards of 20+ offers and in my experience this year $40k-$50k over list price is being offered. This is great news for sellers, the only dilemma with this is running into appraisal issues. If there are no past sales to justify the price, the appraisal may come in lower than the highest offer.
Now for you home I can give you the general market price which I agree with Cindy with BUT, the reason I am your realtor to help you selling is to get you the maximum exposure and the best price with good terms in your offer to help you move forward.
Your home is a single story single family detached residence 55 and up duplex which sits on an elevated lot that provides privacy and beautiful views!
Have you done anything to your home such as new carpet and paint, newer appliances?
One attractive asset of your neighborhood is a very low HOA's. Close to golf, shopping and the beaches.
It shouldn't last too long. i have a few buyers that I showed homes to this week end right in this price range.
When do you plan on moving? Why are you moving? Those are important questions to help me better understand your move and properly market your property.
I would love to apply for the job of being your Real estate agent. You can simply interview me with no strings attached as well. I will do a CMA, (Comparative Market Analysis) to help you determine your offering price and offer you some proven and effective marketing suggestions.
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.
Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called â€œchasing the curveâ€) and Buyers will be asking the question; â€œWhatâ€™s wrong with that house?â€ and â€œWhy has it been on the Market so long?â€
Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; â€œArenâ€™t you obligated to sell at this price if someone offers it?â€ The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)
Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.
Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.