Market Analysis and Market Value - my free service within Lee County
- Would you like to know what the market value of your home or lot is at the current market conditions in Cape Coral?
- Would it be interesting for you to know about sales statistics of properties in your neighborhood in Fort Myers?
For the determination of market value, there is some detail work needed. To be able to compile all data that is available, Realtors use the MLS system in which all active and sold listings are recorded. Within this data range we define a neighborhood or region that is used to display the comparable sold listings. We are not looking at active listings to compare for price as market value is generated by sales and not homes that are listed. The price a buyer pays in the end defines the value of your and all other properties around you.
Within this defined map area we start looking into details of comparable homes by size, age, condition, features, location etc. This way we can come up with a value of your home or lot. If you want to get a free market analysis please contact me here and include the full address of the subject property.
Setting the Listing Price
As a local expert in real estate, I continuously analyze the market and compile values for homes and lots on a daily basis. The goal of course is to get the highest possible price for you under the current market situation. Critical factors in achieving the best price include not only the design and style of your home but also the outside condition and appearance, called curb appeal.
I will spend time with you walking through the house and recommending how you can stage it for showings and which specific factors can trigger the so called "buying emotions" in buyers. There are a couple things you have to consider when determining the listing price. Setting the price too high will not get us any showings and you will miss out on offers.
Moreover, homes that have been listed on the market for a long time do not make a good impression and develop a "smell" - buyers get suspicious! Setting it too low will obviously not bring you the desired proceeds and you will miss out on the difference to the actual market value you could have gotten for it.
- Do you want to overprice the property and risk marketability?
This means that your property might be on the market for many months before it may be sold - in a declining market this can be a bad decision!
- Do you want to sell your property quickly?
Then you may have to be ready to sacrifice part of your profit
Are you looking for the balance of a quick sale and realizing the best sales price?
This is most likely the best way to go! After consideration of all market data, features of your property and your personal goal I will recommend you a listing price for your property.
The Preparation of your house
To market your home in an attractive way is my job. However, the same importance comes to presenting the home appealingly. The house needs to have the right curb appeal for potential buyers so they do see nothing less than a perfect home for them. Before the property gets listed you should think about which things could be done to increase the optical attraction. I can tell you from the viewing point of a buyer what you should pay attention to.
You should check your home for faded outside paint and fix potential smaller damages. Moreover, it makes sense to pressure wash the house thoroughly so you can recover a lot of the original shine. The roof, the gutters, the soffits and the pool screen should be free of dirt and mildew. The garden and landscaping should be taken care of as well including edging the lawn and spraying against weeds.
Hedges and bushes have to have a clean cut and dead plants should be removed. Please store all items away and do not leave them lying around in the front or back yard. Garden trash does not look very good at the side of the road and garbage cans belong into the garage. By considering all these things you might be able to add some dollars to your proceeds when you sell your home.
Staging the home inside
Also the inside of the house is very important and should be kept clean and tidy. The countertops need to be free of clutter. In general you should keep in mind that your house should not look like a museum. All personal items like pictures or tons of decoration items etc. should be stored inside the cabinets so that the buyer can picture your home as his future one much easier and better. In some cases a new paint job might be recommendable.
Flooring should not show any stains. The kitchen and the bathrooms need to be very clean. The right atmosphere makes a big difference. Make sure that all draperies or blinds are pulled up so that the maximum of light can enter the rooms. A light flooded area always is inviting. Moreover you can spray some scent or turn on background music - this will make the buyer feel right at home.
Renovation of a home to increase appeal
For many homes that look outdated or have an older style or design it could make sense to think about some renovation or remodelling before trying to sell them. These improvements can make your home more competitive, at the same time however you need to make sure that when you sell it you get your investment back and then some. Sometimes renovation projects do not increase your profit but they maybe important not to fall behind the attraction level of other homes around you.There are plenty of factors that influence these value adding measures.
These factors are very local and often are different depending on the neighborhood the property is located in. By investing your money into the wrong improvements you will end up paying more than increasing the attractiveness or value of the property.Example: If you live in a home with 2 bathrooms in a neighborhood where 3 bathrooms are considered standard you would probably make a good decision to add a third one. Increasing your living area to the double size of others in the vicinity will most likely not pay off. Local standards play a big role when looking at these improvements.
Renovating or remodelling your kitchen or bathrooms are in most cases a good idea as well as updating floors or improving landscaping. A brandnew air condition system usually is also seen very positive. However replacing doors inside or changing door knobs is mostly not recognized by a buyer. Adding a swimming pool to a home in a neighborhood full of pool homes is definitely worth looking into.
|Kitchen before||Kitchen after|
|Bathroom before||Bathroom after|
|Lanai without pool before||Lanai with pool after|
Why your home is not selling
If you have had your home listed for quite some time now and neither have received an offer nor have you seen any real showing activity, the chance is pretty good that one of the following reasons applies:
The price you want is too high
On one hand this can lead to not getting any activity or offers. On the other hand this might be the main problem why a financing contract falls through - simply because the appraisal does not support the sales price. Considering all relevant factors, it always comes down to one single thing: A property will only sell if the price is comparable to other recent sales in the area!
The condition of your property
Your property needs to hold its ground against others in the marketplace. If it loses compared directly to others you have just lost a potential buyer.
Location, Location, Location
It is and stays the most important factor when it comes to selling real estate. The proximity to schools and shopping, the neighborhood itself, whether it has water access or not - all this plays an essential role when a buyer chooses a homesite. If you have to compensate for a disadvantage in location, it will eventually and only happen through lowering the price.
Your home is not easily accessable
Generally, Realtors are very busy and plan their daily showing tours with clients accordingly - in many cases this tour could comprise 15 homes! To keep it simple for the real estate agent you should not restrict showings through time constraints.
It helps if the agent only has to register the showing but does not have to wait for a confirmation from the seller which can be done through predetermined times that are generally available for a showing. Installing an electronic lockbox simplifies access even more.
If you cannot ensure easy accessiblility and the Realtor has to wait for a confirmation or register at least 24 hours ahead of time or has to meet you to enter the home, this will definitely decrease the chances that he or she will include your house in a tour.