Look at each property individually. Use comps provided by your Realtor and look at how long the property has been on the market. I am an agent in the beaches area. Feel free to contact me if you would like some assistance.
There is often no rhyme or reason when it comes to asking prices these days- non-approved short-sales and often REO asking prices are not set in stone... each situation is unique and there is no guarantee that ANY offer, even above that what is being asked will be accepted.
â§ MIAMI BEACH REAL ESTATE GUY âœº WATERWAY REALTY, REALTORSÂ®
Another option you have is to create a Listingbook account through the website below and you should be able to pull information of what similar properties recently sold for, and based on that you'll be better informed of the market condition in the neighborhood you are looking for. This account will allow to search the same MLS database the real estate agents use. Feel free to call me if there is anything I can do for you.
1) Pre foreclosure Short Sales with "ficticious" asking prices that may not be acceptable by lender taking the loss.
2) Bank owned listings - these are usually priced well below market and often result in multiple offers above asking
3) Regular sale for the rare person with equity - These sellers may be overpriced but should you decide to submit an insulting offer they may not sell to you at any price. The majority of buyers are emotional and do not understand that their house is simply a "product" and truly they should go ahead and get a reality check by paying for an appraisal. Unfortunately there are some Realtors who will give an inflated value to "buy" the listing contract with the full knowledge that the house will never sell anywhere near the asking price. This "fools" the seller and so overpriced listings will eventually come down to earth but it may take at least a few months.
Asking price is what the seller would like to have. Reality is often a little different. Your Realtor, should be able to pull what similar properties recently sold for and based on that you'll have to decide. Compare the listing price vs sold price and that should give you a good idea to proceed.
Review comps with your agent, recently sold similar properties in the immediate are, see what the data suggests as to a fair price--there areally are no set standards as to how much below list price to offer on any property--do keep in mind that if a property is listed on target or slightly below today's market, multiple offers may occur; consult with your agent.
Since 1/1/11 there have been 74 closed sales in Ponte Vedra Beach. These sales range from 90% to 96% of list price depending on which area. These numbers can further be broken down by price range and neighborhood by your realtor.
Please understand this is just a rule of thumb for you to use and any offer should be based on a compartive market analysis of the property.