Home Selling in Cape Coral>Question Details

Bps, Home Seller in Cape Coral, FL

i have fresh water house in cape coral it went 480,000.00 in 2007 it is 2800 sq ft 5 bed room 3bathroom poo, home and had no offers at 250,000.00 why

Asked by Bps, Cape Coral, FL Wed Feb 16, 2011

this home has a state of the art new kitchen high end cabinets and appliances two new bathrooms it has a pool it has a 30ft brand new dock it has no chiness drywall it has been on the market 1yr this house is owend free and clear all assesments are paid i have only gotten positive feed back on this property but in 1yr i never even got one offer what gives .I have been in realestate for 30yrs and i have never seen anything like this any ideas.

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9
Hi BPS,

Generally speaking a larger home in a neighborhood will sell for a lower price/sq ft than smaller homes in the same neighborhood. Also a 2 story is less costly to build so it also takes a hit on the price/sq ft if you're comparing it to single story houses.

If you want to get a very accurate idea of what your house is worth, I would recommend hiring a licensed appraiser ($350) that ideally lives in your same neighborhood. She will arrive at a more accurate price and will adjust your house for upgrades, lot location, etc. more accurately than most Realtors who are not also licensed as an appraiser.

Then make sure your house is sparkling clean (clean enough to eat off the floors and counters) and decluttered and looks like a model home (no tired, grandma looking furniture). Get rid of aluminum mini blinds vertical and horizontals...these date your house to the 1980s! Cheap Walmart drapery panels will look more current. If you do not want to update to newer furniture and aren't able to keep the house immaculately clean and clutter free for short notice showings, you may actually have better luck selling it vacant.

Good luck and you are very fortunate to have no mortgage!
1 vote Thank Flag Link Thu Feb 17, 2011
If it's not selling, and it's on the market properly, it's usually the price. Drop it again and see if you pickup some traffic. It's usually a simple matter of supply and demand.

Feel free to call with any questions.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
http://www.shortsaledepartment.com
Serving all 50 states
1 vote Thank Flag Link Wed Feb 16, 2011
Are you working with an agent, if not, consider the idea--keep in mind that market conditions are not the same as they were in 2007, properties have dropped in value, and some more than others--therefore if you need to sell, and want to sell, review comps--recently sold similar properties in the immediate area--see what the data suggests and adjust your price accordingly....then go from there.
1 vote Thank Flag Link Wed Feb 16, 2011
I would be happy to investigate the comparable sold as well as active properties and also perhaps give you some ideas on staging , if necessary. You will need to carefully scrutinize the sold comparables over the past 90 days to determine how your property stands against them, but especially the active listings. Tom is correct, most buyers shop online before contact a Real Estate professional, so making your property shine above the others on the Real Estate websites is key. There are a number of different ideas that you can implement to generate some motivated buyer leads. Feel free to give me a call, or email me for some ideas. Your address will also be helpful.

Christine Lussa
Maranatha Realty Group, LLC
Lic. Real Estate Broker
239-210-8256
chris@mara-realty.com
1 vote Thank Flag Link Wed Feb 16, 2011
Try Phoenix ... 75% haircut in some area comparing to peak and it is still dropping.
1 vote Thank Flag Link Wed Feb 16, 2011
Email me the address through my website so I can check and let you know

Del Prado Realty, LLC
Juergen Hahn
239-634-6677
1 vote Thank Flag Link Wed Feb 16, 2011
Bps,

As you are aware, prices throughout many parts of Florida have dropped significantly and it is not unusual to see valuation declines well in excess of 50% and more. It sounds like your home is beautiful and in "showing condition" which means one or two things are the issue; and maybe both.

Have you checked out how your home looks on-line on sites like Trulia and Realtor.com? Over 84% of all buyers will be searching the internet before contacting a Realtor and if your home is not professionally presented with a multitude of professional photos and a descriptive story to grab the prospects attention then that is a problem. The other issue could be price and you need to carefully evaluate similar homes that have sold within the past 90 days with similar features within a 1 mile radius of your property. Your Realtor should be able to provide you with a detailed comparative analysis.

Here in Palm Beach County the market is showing amazing strength with all of the market areas I track showing solid increases in pending sales over the past 30 days with many at annual highs. If your listing is expiring and you would like my help in locating an agent who will be able to get your home sold please feel free to contact me at your convenience.

Best of luck and if I can offer anything additional just let me know.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"


Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference: http://www.tompriester.com
1 vote Thank Flag Link Wed Feb 16, 2011
Newer freshwater homes with pools are selling in Cape Coral. In fact, over the last 90 days 28 homes less than 10 years old with pools on freshwater canals have sold. The average selling price of these 28 homes was $184.9K / $88/SF.

Your house, which is priced at $89 SF, is right at the average selling price. As I see it, the biggest challenge that you have is that there are fewer buyers in the market right now for a larger 5 BR home vs. the more typical 3 BR Cape Coral offering.

As you need to attract families looking for a larger home, make sure your property description on the MLS has keywords like large, 5 bedroom, space etc, that will draw in buyers looking for a larger home. Encourage your Realtor to blog about your unique larger home: http://www.gulfreturns.com/2006/06/cape-coral-5-bedrooms.html

Hang in there, a buyer for your well-priced beautiful home will show up soon enough!
0 votes Thank Flag Link Thu Feb 17, 2011
Unfortunately you bought at the top of the market, which I am sure you already know. Real Estate in Cape Coral has dropped 50 and 60% in some cases - it's tough for sellers right now. It sounds like you have a very nice house, and it may just be a matter of proper staging to push it over the top. It also could be something about the area. What part of Cape Coral are you in? If you would like to discuss it in further detail, feel free to give me a call. I would really have to look at comparable properties in your neighborhood to see if you are priced competitively. I'd be happy to discuss it with you any time.

Good luck,
Margie A. Birch
Realtor
Selling Paradise Realty
239-691-1303 - cell
margiebirch@sellingparadiserealty.com
0 votes Thank Flag Link Wed Feb 16, 2011
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