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Asked by Joseph, Miami Mon Apr 30, 2012

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Answers

14
Lila Henry, Agent, South Miami, FL
Tue May 1, 2012
Good Morning Joseph,

I think it is safe to say that you have gotten quite a bit of information all of which is very much on target, so there really is no need to repear any of it. I think that at this point you will want to contact a realtor, either one list here in providing answers or a realtor that can be recommended by friends, famliy or co-workers. Of course in order to arrive at the correct price for your duplex you will need to have a realtor come to the property to see the condition, size and location in order to then provide you with the correct pricing for your property. The time on the market is clearly directed by the condition, size and location, and you will want the realtor to provide you with the most recent sales prices for the area. The Miami real estate market is definitely very active right now, with first time buyers looking for an investment opportunity as well as the more experienced investors. I can attest that property that is properly priced in today's market has been going under contract within a matter of days and many times with multiple offers. Good luck with the sale of your property and should you have any further questions, please feel free to contact me.

Lila V. Lopez
Certified Distressed Property Expert
(305) 772-2521
homesbylila@yahoo.com
RE/MAX Advance Realty
1 vote
Ismael Gonza…, Agent, Aventura, FL
Mon Apr 30, 2012
Joseph: How long your a property sits on the market depends on several factors. 1. Is the property priced correctly 2. Is the property in good condition or does it need work 3. Since it is a duplex - is the property currently tenant occupied or is it owner occupied.

Duplexes are very attractive to investors at this time, but they are looking for specific returns on investment. With that said both selling price and current rents being received or potential rental rates will play a big factor.

Although, it is pretty much impossible to know exactly how long a particular property will take to sell; I can give you the current statistics. In the past year there have been about a dozen sales in your zip code for residential income properties and the average days on market was 33 days. Although, this may be a bit misleading because properties took up to almost 90 days to sell and other sold in a week.

I hope this information helps a bit.
1 vote
Steven Epste…, Agent, Coral Gables, FL
Mon Apr 30, 2012
Days on market is directly related to Price. Then there's Seller's motivation, an indicator of pricing; condition, location, terms and yes, price. The question should really be, what price should I set if I want to sell in 30-days or less; 90-days; 120-days or if I don't care the marketing time whatsoever. Trust this helps and it you truly want professional help in getting your property sold please feel free to call me 305-546-5132 or email stevecepstein@gmail.com. Thank you, Steve E
0 votes
Ann Ryan, Agent, Doral, FL
Mon Apr 30, 2012
Joseph, I agree with many of the others... if your goal is a fast sale, a correct price should get that done quickly - offers within 2-3 weeks at most. On the other hand, if your priority is getting a higher price, then it may take a bit longer. Investors are definitely your target market, and most are looking for at least a 10% ROI, so the best question may be what sort of rent you could get for both halves of the duplex? Give me a call - 786-332-7042.
0 votes
Olga C Suarez…, Agent, Miami, FL
Mon Apr 30, 2012
At the right price it won't take too long. Westchester is an area that buyers love. May no be more than three months and if advertised well will sell faster. You need a good realtor with experience. I'm located a few blocks away from Westchester and I'm familiar with the area. Call me at 305-794-8435 or email me at olsfla@hotmail.com
0 votes
Anthony 1 De…, Agent, Miami, FL
Mon Apr 30, 2012
Joseph, I think that Ismael gave you the best and most informative answer. Took the words right out of my mouth. (good job Ismael)

I would however add that you might want to get on the phone with a couple of the local Realtors on here if your considering selling or having a problem selling your property. A quick over the phone interview will give you a better image of ALL the factors that effect your selling time.

I know that Nereida Figueroa is very active on here and can be reached at 305 519-3199
Ismael Gonzalez obviously knows what he's talking about. You can reply to him.

or myself
Anthony DeNito with RE/MAX Advance Realty II at 305-323-5195

Anthony DeNito
RE/MAX ADVANCE REALTY II
305-323-5195
myrealtor@anthonydenito
NOBODY IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX. NOBODY.
Web Reference:  http://www.anthonydenito.com
0 votes
Irina Karan, Agent, Aventura, FL
Mon Apr 30, 2012
Hello Joseph,

You are doing a great thing preparing to sell your duplex.
However, the ADOM is not as important as it might seem at first.

The mian thing in selling is to price the property properly, preparing it for sale - which includes fixing things that need fixing, de-cluttering, de-personalizing, de-furniturizing (if needed to make the place look its best and biggest), making the place sparkle, staging), and how much exposure your property will get.

Exposure is super important, as well as pricing.
If your property is only posted on MLS (Multiple Listing Services) - that's not enough.
It has to be on all important real estate sites.
To price the right way - look at several CMAs (comparable market analysis) and ask your prospective agents how they figured their values and how long it'll take to sell your duplex. Choose the one that's the most honest with you.

If this is done the right way, you'll get a viable contract within one month maximum, and you'll close within 2 to 3 month. That way your zip code's ADOM will improve...

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes
Caridad Obeso, Agent, miami, FL
Mon Apr 30, 2012
Hello Joseph,
Marketing time is usually three to six months if the property is competitively priced and marketed.
Any other questions or concerns you can reach me at 305-968-6739 or email me at obeso.realtor@gmail.com.
Best Regards,
Carrie
0 votes
Anthony Khou…, Agent, Hallendale, FL
Mon Apr 30, 2012
Hi Joseph
It depends on location ,visibility an condition ,it can sell quickly or spend a little time on the market if there's a lot
Of the same properties for sale in the area,if I can assist u in anyway call me
305 300 8540
Anthony
I can get it sold
0 votes
Carlos Escam…, Agent, Miami, FL
Mon Apr 30, 2012
Depends, price, conditions, location,.

I have an investor buying duplex preferebly 3/2 and 2/2 at the westchester area.
Please give me a call and I will be more than happy to present your property to them.

Carlos Escamilla
305-300-8814

BR
0 votes
Miami Real E…, Agent, Miami, FL
Mon Apr 30, 2012
What is your realtor's Marketing Plan? Do you have a realtor? Does he/she even have a Marketing Plan? Please contact me. I would be more than happy to assist you, thanks.
0 votes
Monica Pineda, , Miami, FL
Mon Apr 30, 2012
Joseph,
it all depends on the condition and if the property is priced correctly.
If you need a Comparative Market Analysis for this duplex;
please do not hesitate to contact me.

Monica Pineda
JPR International Real Estate
786-543-3332
0 votes
Nereida Figu…, Agent, Miami, FL
Mon Apr 30, 2012
Right now, depending on price, property condition and of course location. If you need to know about comparables and other information to sale. I'm available for you. 305 519-3199
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Mon Apr 30, 2012
No one can answer that question. If it is over priced it may never sell, if it is grossly under priced it could fly off the shelf. If it is in horrible shape it won't sell quickly.
0 votes
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