Overprice Your Property ?

By Jim “Property Wizard” Beggins, broker, CENTURY 21Beggins Enterprises, with 11 offices and 400 agents serve Pinellas, Hillsborough, Manatee and Sarasota Counties. Since most opinions about real estate can be supported with facts. I will inform you to the best of my ability so you can unconfuse the facts to your personal advantage. I think I can use my “hands on” experience in Florida real estate since 1970 to achieve your desired outcome. Please let me know how I’m doing. mailto:jimbeggins@c21be.com 727 254 8144 Cell. Call, text or email with any questions.

When a potential client asks me to price their home, I view the property, take measurements, note upgrades, then provide 5 current listings (what buyers can pay), 5 actual sold properties (what buyers did pay), and 5 expired or withdrawn listings (what buyers refused to pay). These are the most accurate comparably priced properties, (comps) at any given point of time. My client then picks a price according to their personal motivation to sell. Most of us pick a price higher than suggested to give room for offers. Why is this usually not a good idea? It’s better to price it according to my analysis to make it more competitive with like properties. “I’d rather turn down 10 offers than get none.” Buyers generally search in $100,000 increments, so $599,000 gets a lot more activity than $601,000, and may facilitate a bidding war with a higher final selling price in the early days of a marketing campaign. We can raise or lower the listing price according to the number of showings. It pays to know your real value rather than to rely on the internet. The internet cannot yet see all the features of your house nor gauge your motivation. We call our pricing system your Strategic Market Analysis “SPA” and it’s free.

For more info and specific advice please attend my weekly “Informed Confusion” 1-hour discussion every Tuesday, 5.30 pm at 5050 Gulf Blvd in St. Pete Beach. Please RSVP. No sales pitch, just honest information you can use. For topic suggestions, just email or text me. Selling or buying is a team effort between your REALTOR and yourself. We represent you as if we are you. January beach sales were the lowest number of units in over 18 months. Inventory is increasing making the market more competitive. Come and find out why.

Flood insurance price increases are making most barrier island properties less saleable. For many, the option of new construction can be a viable alternative to selling an old flood prone home. GHD Construction Services Inc. has just completed a new affordable beach model at 14305 No. Bay Shore Drive in Madeira Beach. Their “Bahama Winds” model can be duplicated on almost any lot on our islands. Drive by or call for an appointment to see it.

Because the U.S. dollar is strong, our Canadian and European clients earn a 30% to 40% bonus for selling their U.S. holdings. Conversely, they pay more if they buy here. Many of these buyers are postponing their purchases. The world economy is affecting our beach market except for the very high end properties. When people are confused they tend to do nothing. There is no clear direction for many of us. Get as much information about your market before deciding what’s best for your family. We have current market knowledge and we’d like to help. Call me or RSVP for my Tuesday discussion.   

All the best, Jim “Property Wizard” Beggins