The NY Times has an informative article about seller expectations and the consequences of listing a home for sale at an unrealistic price point. In our market, distressed properties are the baseline which are setting the pricing bar across most communities and sectors.
If you are selling in a community that has short sale or foreclosures, these distressed units will generally be the price leaders in the community. Until these distressed price leaders sell, traditional sellers should expect buyer offers to reflect pricing based on these distressed units. Getting an offer based upon distressed pricing is a bitter pill to swallow, but unfortunately is what we are dealing with right now.
Our site offers pricing information on over 600 communities in the Greater Fort Myers area. It is a great resource to stay up to date on asking prices in your community. If you are considering a sale of your property and looking for an objective opinion of value, please drop us a quick note.
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