Step up and pay for a professional appraisal. If your condo is not priced to sell AND in great showing condition, no agent will be able to sell it. you won't even get any showings. It doesn't matter what you payed; it's what the market can bare.
Buyers want great DEALS; make them one!
Price is everything in a buyer's market as your competition is great. Unless it is priced below market, in my opinion, you will not attract buyers. If you don't attract buyers, then there will be no offer.
If you can not afford to price the property to attract buyers, then I suggest you do not sell it now. We know in the business, that overpriced properties do not sell.
I hope your agents have been having a very frank discussion with you every 2 weeks regarding showings and price. If you are not getting traffic through the door, then lower the price until you do.
Phil Fowler Realtor e-PRO TRC ILHM
Keller Williams Realty South Tampa
Any chance you can keep the condo for a couple more years? According to analysts with Forbes and I even heard Dave Ramsey say last week that he believes Tampa is seriously undervalued and poised for a fast recovery once the market turns around. Dave Ramsey thinks we may see prices rise in Tampa as soon as next Spring.
Unless someone is selling to release funds to buy a more expensive property to take advantage of these prices, I recommend they keep the property if at all possible.
If you MUST sell, then I too recommend hiring a licensed appraiser to give a very educated guess of the market value of your condo. Below is contact info for a well-experienced, licensed appraiser that will give you a very good idea of what your condo is truly worth. He only charges $175 (most appraisals cost over $300). Licensed appraisers have a certain level of liability so he/she will not likely understate or overstate your value as may happen with a Realtor price opinion. Some Realtors overprice to capture a listing contract, others may underprice to make an "easy" sale. In a declining market, if you price your condo too high (or even at market value) you will ultimately receive less because you will have to continue following the market lower. I'm sure that 18 months ago your condo was worth significantly more than you will be able to sell it for today. So, unlike the "seller's" market a few years ago when you could price high and wait for the market to reach your price, today the reverse is true. Pricing is crucial in this market.
SUPERIOR RESIDENTIAL APPRAISAL SERVICES, INC.
I hope this helps you to get your condo sold or better yet if you can keep it for another few years that may be better for you. If you must sell, please call me if you need any assistance.
Hope this helps.
All the best,
Alma Rose Kee, P.A.
Charles Rutenberg Realty, Inc.
I have just sold a condo in South Tampa and have spent months looking with my client. There are SO MANY condos for sale, you have to make sure you have your property priced to sell. Clients are shopping price, and lenders are shopping very stable, FHA approved condos., If you have gone through two realtor listings (which should mean 12 months); the issue has to be marketing, price (most important component of marketing); or visibility. If you are priced at/below competing condos, being marketed through MLS offerring 3% to selling agents (in addition to 3% to lising agent) and all major real estate websites and receive ongoing feedback as to showing results and still not selling...the issue is the community/condo itself. The inventory is going down daily and if you are not on the train now you may miss out completely.
thank you for the opportunity to brag... a little :)
I would start saying that there's no bad Realtor, rather more aggressive and dedicated, altough some unfortunately don't belong to the category, really!
That said, price is the key nowadays...... with so many REO'S and improperly priced short-sale!!!
You need "flexibility" and someone that is aware of the market that can offer solutions to your specific scenario.
Did you Know that FHA have abolished Condo's financing? yeahhhhh things are getting tough!
Here at Prudential we can offer "in house" full service not to mention "featured" status on Realtor.com and Yahoo.
I'm also working on two projects that can get your property sold in 90 days max!
Call me if you want a S. Tampa living agent, short sale specialist and who's the only one offering that 90 days feature!
If your condo is over priced, then it will require a lot more time and marketing. If your condo is underpriced, it'll get sold faster and require less marketing, but you won't come out with as much in your pocket. If it's priced right with good marketing, it'll sell in a decent amount of time with the most money in your pocket.
My suggestion is to take the time and really interview the realtor, not just the agency. Find out what they do, how they do it and what your home realistically should be priced at based upon the current market. Just putting it on the MLS and thereby, in Realtor.com, is not marketing your home. You need to market your home all over the internet. Is your home on Trulia, for example?? You are on Trulia asking questions.
In addition, you need to be the best perceived value to a buyer. If not, you will just be like all the other homes that are on the market. Remember, sales are going up. You need to be riding the wave, not floundering around in the murky depths. Let us know if we can help.
The Szydlowski Team
Future Home Realty, Inc.
It's hard to say why your place hasn't sold with no information but we'd be happy to discuss your situation.
Contact us anytime at firstname.lastname@example.org.
Re/Max ACR Elite South Tampa
Sorry to hear about your difficulties in selling your Condo in South Tampa. Are you currently listed with an agent?
As you are aware the Condo market in particular has been the hardest hit and take the most time to sell if not properly priced. I too am with Century 21 on Davis Islands and I believe that Century 21 has the most expansive network to get properties noticed and sold.
I would be curious to here about your situation.
Century 21 Fisher & Assoc