Home Selling in Robertsdale>Question Details

Hal, Other/Just Looking in 30101

what are the chances of a home on the market in Robertsdale Al @ $550,000 selling @that price? The home is

Asked by Hal, 30101 Tue Jan 29, 2008

appraised @$400,00. It's actually a single family home w/a guest house.

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John & Linda Cramer’s answer
Agreed, from our colleagues below, currently if you are a seller, with an appraised at 400k and placing on the market for 550k, it would be best to re-examine the possiblities. Having a professional Full Time Real Estate Agent visit with you and look at the true options, and get to a Marketable Price for the home. Then make sure that Agent has a marketing plan that can provide you results. Call John & Linda Cramer @ 251-599-5799 if we can be of service. Best of Luck in your Endeavors.
Web Reference: http://www.cramerteam.com
1 vote Thank Flag Link Sat Mar 8, 2008
Hello Halley,

It will surely happen some day! But not very likely in the foreseeable future. The current real estate market conditions are pushing prices down below appraised values rather than over. And a quick look historically, confirms that no house in this part of Baldwin County has sold for over $450,000 in the last 5 years. So if you are selling at this price level, the prospects don't look good, but if you're buying, you would have a lot of room to negotiate a lower price. Hope this helps!

Dan Therrell
Fairhope, AL
1 vote Thank Flag Link Wed Jan 30, 2008
Hi Halley, in this market a home needs to be priced at market value. There was not a home in the $550 range that sold in Robertsdale in the past six months. A CMA needs to be done to see where your home falls with other homes in your price range. You want your home to be comparable to the other homes on the market. If there is a like home on the market like yours and they are selling it for less, the buyer will purchase the better priced home. If you need any help please contact me, I work the Robertsdale area.
Vicki Bishop
1 vote Thank Flag Link Tue Jan 29, 2008
As a resident of Robertsdale I have seen a number of listings sit on the market chasing the home buyers. The current market is not conducive to selling a home for more than the appraised value. Remember an appraisal is only valid for 6 months. I usually ask my sellers how motivated they are. If they say they just want to test the market, this probibly is not the time to sell. Remember you can not typically get a loan for 500,000 if it appraises at 400,000. From a buyer perspective why would they pay more than the appraisal? Just a few questions to think about. If I am not to late and can help you in any way please feel free to call me.
Kristy Bushaw
Robertsdale Resident
AL Broker/Florida Realtor
251.223.1111(c)
Web Reference: http://www.gozonere.com
0 votes Thank Flag Link Tue Aug 12, 2008
I think it depends on when the home was appraised, and the reason for the appraisal. It would be good to sit with a Realtor and look at sold comps in the area. I think that you need to do that. An appraisal may not mean that much if it was done more than 3-4 months ago. I sold a home on Hwy. 55, just north of Hwy. 32, south of Silverhill, but had a Summerdale address. It might be used as a comp. I listed it for 749k, and sold for 675k. It had 3785 sq. ft., 4 bedrooms, 3.5 baths, pool, guest house and 16 acres. Any similarities? Otherwise, call me. I can help you with comps if you're still thinking about selling. -Liz Hoffman, Coldwell Banker Reehl Properties, Inc.-251-367-3602 cell
0 votes Thank Flag Link Tue Apr 15, 2008
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