Hey there and your question is a good one and to help you with accurate data the price of a market is not determined at all by agents rather it is what buyers are willing to pay and what sellers are wiling to sell for.
A property is priced by recent sales in the area, the similar square footage of property, condition of the property, inspections and appraisal of the property. Then the financial factors of what the sellers need to get from the sale, what they owe on the property. In addition, if the property is distressed and becomes a bank owned property - the bank then controls or dictates what the price will be. Also liens and judgments on distressed properties are factored in and buyers often get stuck with paying them unless the bank has priced the property to absorb the liens. The there are short sales where multiple offers come in from buyers and the bank may or may not approve. These are just a few factors affecting what homes are priced at and the market is what the buyers of the market are willing to pay. In addition Sun City is a very unique area with a high rate of turnover of properties due to relocation of the owners, downsizing and so forth. There is no "agent low ball" conspiracy going on here in Sun City and in a handful of offices are here and in fact the market is showing a nice recovery after a depressed market. Most recent news reports and price reports show the market has gone up 14%. See this most recent article in fact at http://www.bizjournals.com/southflorida/blog/morning-edition/2013/09/south-florida-housing-prices-rise.html... more
The amount of time it will take to sell will depend on a number of factors, One of the first steps to take is to choose a Realtor who can show you what the sales have been in the past 3-6 months in Sun City that are either in your neighborhood or most closely resemble the characteristics of your condo to assist you in pricing it to market conditions. There are a number of other considerations that would then follow. Looking at single family homes can be a concurrent process to establish neighborhoods, your criteria, etc. to fine tune the search. I worked with a client who was selling their primary home out of state, we found a home about 2 weeks before in Sun City and the timing was exceptional.
If I can answer any more questions, please feel free to contact me at 813-784-6085 or firstname.lastname@example.org. My office is about 15 minutes away.... more
Find a good realtor to give you the property's history. They or I can do an MLS search and find out a lot about it. Give me a call if you would like any help, I specialize in the Sun City Center area and would be happy to help.
Sharon Van Loan
Keller Williams Realty Southshore
Assessed Value - Value placed upon property for property tax purposes by the tax assessor.
Market Value - The highest price a willing buyer would pay and a wiling seller accept, both being fully informed, and the property exposed for a reasonable period of time. The market value may be different from the price a property can actually be sold for at a given time.
Source: Financial Real Estate Handbook, Sixth Edition... more