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How much is this property worth? – From the Seller’s point of view.

March 5, 2012 1 comment

This age-old question Sellers are asking is never easy to answer!

Each property has its own unique situation and features, but there are some main factors that will affect the value of any property:

  • Property Condition: A well-maintained, CLEAN, safe (no exposed wires, trip hazards, etc), and livable property with working appliances will get a higher price than a total fixer-upper. Beautifully upgraded houses or condos often get a premium price, but not always. Staging helps many tired or bland looking properties to shine!
  • Location, Location, Location! Some locations are better than others. Even within the same subdivision of homes, or the same condo complex, not all condos or homes are the same. Talk to a Real Estate Professional like me that knows your subdivision. For Florida, the most significant preference I observe for condos is that seasonal residents like to soak up the sun while in Florida, so “sunny side is best” for them. Buyers for single family homes don’t seem to feel as strongly about the sun.
  • Waterview? Boat Slip? Water access? This feature is really covered under “location”, but if your property has a water view, boat slip or water access, the value is naturally higher than the same property without these features. But not all water is the same, how deep the waterway is, if there are bridges to go under, if deeded boat slips or putting in a dock are allowed, are all factors affecting your property value.
  • Pets: Pets are often a problem in condos or even townhomes. If your complex is “pet friendly” per the deed restrictions, a higher price might be attainable. Works though only if your specific Buyer is a pet owner and lover!
  • Gated: Comparable units in gated versus non-gated communities normally get a higher price.
  • Deed Restrictions: Age-restricted communities typically sell for less than non-age restricted properties. Age restrictions limit the pool of potential Buyers, so a smaller number of people are competing to buy your property.
  • Seller’s Situation: It is still true, there are some desperate Sellers out there, and some great deals can be picked up right now! Contact me to get started on finding your perfect property TODAY!

Harbourside Condos in South Pasadena, FL are a very practical example (and a favorite community of mine!), how sales prices can vary greatly even within the same subdivision or complex, and even the same floor plan!!

In all of 2011, 16  condos with the “Biscayne” floor plan of 1,145 sq ft were sold in Harbourside. The HIGHEST sold price was $279,000.-, my partner Denise Hobbs and I were the listing agents on this sale. The LOWEST sales price was $190,000.-. WHAT A CRAZY DIFFERENCE!!

If you have any questions or would like to talk about specific factors affecting the value of your property, please call me at 727-480-4155 or contact me!

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Tanja Cisliek|Realtor     cell 727-480-4155      fax 727-498-5656     ReachTanja@gmail.com  www.RealtorTanja.com                                 South Beaches Real Estate Professionals Inc.