Jupiter Real Estate Answers: Can I Sell My Home Fast and Still Get a Fair Price?

Filed in What's Hot? by on September 19, 2017

Is it better to keep my Jupiter home on the market until I get the price that I want, or should I just move my property as quickly as possible? To a seller, it can feel like quite a conundrum. If I sell my home fast, will I get a fair price? Of course, there are some situations where as a seller, you need to move fast, but if you can wait to sell your Jupiter or Treasure Coast property, should you? Unfortunately, there is no “one-size-fits-all” answer.

Understanding the Jupiter Real Estate Market      

Anyone who’s sold or bought a house before can tell you that the market can fluctuate. This is especially true when you’re buying a home in Jupiter, FL. In a buyer’s market, the buyer has many options to choose from, so a home might not sell as quickly as it otherwise would. In a seller’s market, the options are limited, and a home can sell in as little as a week, and at a much higher price.

No matter what the market outlook appears to be when you sell your Jupiter home, it’s important to think strategically before putting your home on the market, to avoid a pricing blunder. Pricing too low doesn’t necessarily mean that your home will move quickly and pricing too high can lead to a home that sits on the market for months, making it unappealing to buyers who might have considered the home at a fair price. If a home isn’t selling, and the price keeps going down, buyers may eventually worry that there’s something wrong with it, and shy away, even if the price is right.

Setting the Right Price for Your Florida Home

It’s easy to get caught in the pricing trap. It might seem easy. Just take a look at what the home down the street sold for, or take a look at that flyer that has a neighbor’s home listed for a certain price, right? Well, it’s not quite that easy. If you really want an accurate picture of your home’s value, it should be based on a market analysis that’s been prepared by a local real estate expert.

An experienced Florida real estate agent will understand the market and can provide you with information on recent home sales in your area and determine how your home stacks up. Doing some research before placing your home on the market will greatly reduce the risk that you’ll end up with a home that takes forever to sell, at a price that’s way too low.

Unfortunately, even if you’ve made extensive renovations to your home, you might not end up selling at the price you dreamed of. If other homes in the area have similar features, the competition factor comes into play, which is another reason to do your research before putting out the “For Sale” sign.

Another factor to consider during the selling process is marketing. Today’s consumers expect to view photos on the internet and take virtual tours, and with an expanded reach, it’s important to work with someone who knows how to get your home noticed.

Average Time on the Market Calculations

If you ask three South Florida real estate professionals what the average time on the market is for a Jupiter home, you’re likely to get three different answers. The standard answer would be to take the anywhere from 30 days to six months of listings that sold and add the days on the market before the listing transitioned to pending status, then divide that figure by the number of listings. This may not tell the whole story, however.

Every house is different and so is every seller. The agent may have been dealing with a seller with little motivation to move the property, or who was stuck on a specific price. The property might have also been difficult to show, because the home had a tenant or the property was being renovated while on the market. Depending on how active the agent is, a few sellers could greatly skew this statistic.

There’s also another practice that could impact average time on the market. Some real estate agents withdraw listings from the MLS after a certain period of time and then relist it, so that buyers assume that it’s a new listing. In other cases, after a listing expires, a different agent grabs it, benefiting from the previous agent’s prior marketing efforts.

With so many variables in play, simply relying on a calculation to judge a real estate agent’s capabilities is not the best strategy. Selling a home in Jupiter is part science and part art. Some real estate agents also sell homes in different communities and because markets can vary, even neighborhood to neighborhood, you might not have access to the right information.

So, Does a Quick Sell Mean a Low Price?

The answer is, it might, but with some research and professionals to guide you, it is possible to sell your home quickly and at a fair price. When it comes down to it, speed is not necessarily the key. Providing ample lead time prior to putting the home on the market may very well be your best bet. If possible, give the real estate professionals that you’ll be working with at least a month’s notice before placing your home on the market, so that they have time to conduct valuable research on your behalf, and ensure that they’ll recommend a good price.

If you are thinking about buying or selling a home in Jupiter, North Palm Beach or in Martin County, contact the team at Lillian Realty Group. We know the local market well and we’ll work closely with you to make sure that you get the best price on for your home.

Let us know what your selling timeline is and what your expectations are. We’ll work hard to come up with a pricing strategy that makes sense to you and will get your home sold.

 

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