Feels like more than a couple of years ago when Colony inquiry was this brisk. Colony listings are getting a whole bunch of showings and some offers are starting to come in! When this time last year it wasn’t uncommon for a listing to stay on the market for over a year, now sellers and buyers have come to some unstated agreement that the right price has met the right timing…the sweet spot. Some of my listings in both Florencia and Navona have gotten reasonably decent offers recently and a couple of them within the first 30 days of being listed. That sure does feel like improving market conditions to me.
Pictured above is Florencia #1404 and comes complete with hurricane shutters, 3 bed/3 bath.Really for our sellers in The Colony, if they price it right, the home will sell, this one right priced at $699,500. If sellers want to “test the market”, well, that statement is the antithesis of a motivated seller, one who has adopted a realistic view of the market. I have had to say to sellers that it may just be a more practical approach to wait to sell and observe some more of our inventory of homes getting sold before inconveniencing themselves with listing followed by an occasional showing and/or setting themselves up for an expectation of an offer. Prospects only have time to view those homes which are properly priced, leaving the overpriced home left not shown. Not a winning selling strategy to my way of thinking.
Above is #2004 Navona. Sold in less than 60 days for 98% of asking price and closed in middle September.
Suggestion: If you are a prospective seller, schedule a time to look at the homes in The Colony that your agent feels are comparable to yours. Ask you agent to tell you how many days those home(s) have been on the market. Finally, ask your agent to share with you what comparable homes have sold in the last 6 months. Come to accept the idea that very few upgrades actually translate into a rationale for a higher price. As a perfect example, this “upgraded” wood floor has already been replaced by the new buyer with tile. What you believe is an “upgrade”, what cost you additionally, may actually turn out to be the obstacle that keeps a buyer from making an offer. Much better strategy to streamline the pricing process by offering the price not to exceed closed sales…that is if you are really anticipating an offer and you are actually preparing to sell your home.