A very common mistake many sellers make when attempting to price their property is to place a lot of weight on active listings, instead of closed sales. The best way I know to describe this is that list prices are the property owners unrequited dreams. That dream doesn’t become reality until a ready, willing and able buyer purchases the home.
Do not confuse active listings with past sales: The market is very defined.
I equate the current market to a very defined channel, a fast moving creek even. This is due to the lack of quality and properly priced inventory. Also, the creek is fast moving.
The key to getting caught up in the current velocity (metaphor for how the market moves) of that creek is be close enough. If you price the property too high using active listings versus closed sales. You will be too far up the bank and not able to get your toe in the water. We see many cases where a property priced as much as 10 percent too high causes it to sit.
Thinking of buying or selling? We would love to sit down and discuss your options.
Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting edge marketing techniques and data driven Real Estate solutions in today’s ever changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.
During the beginning of the housing downturn Steelbridge Realty LLC was the Brokerage arm of several private equity entities. We assisted them with asset modeling and market metrics. Many prominent local commercial projects were included in this scope of transactions. in 2012 Jeff and Cristina bought the other partner out and relocated the company to North Fort Myers. It now serves as a boutique style firm cater to it clients and the community at large.
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