Real Estate Matters: New Year’s Resolutions

FORT MYERS, Fla.- Lose weight, improve finances and exercise more. The top three Real Estate Resolutions are exactly the same.

1. Lose Weight: In other words, some sellers have to cut the fat out of their asking price

• We all know how hot the market is right? How about this for a startlingly fact.
• There are over 1,000 properties on the market now that have been for sale for over a year.
• The average market time for a property is between 70 & 90 days, depending on price range.
• There are 1,000 sellers who have been on the market four and five times longer than necessary.
• These sellers need to get skinnier and cut the fat out of their price.
• Because if a property doesn’t sell, it’s not the buyers fault.

2. Improve Financial Situation

• 1/3 of the homes that have been on the market for over a year are vacant, which means no rental income and no utility for the owner.
• This is a major financial mistake.
• For the non-vacant properties, in spite of the rising market the cost of ownership and maintenance will usually be greater than the appreciation.
• So selling sooner, is a better financial decision.

3. Exercise (Exercise better judgment)

• Almost 500 properties have been for sale with the same agent for over a year with the same agent.
• Many between two and eight years.
• A good agent will be bugging you to lower the price. If that’s not happening then you may have to become more active and exercise your options.

If you have any questions you can email Denny at Denny@dennygrimes.com