Coconut Grove Home Sells After 39 Months On The Market
February 11th, 2010 categories: Coconut Grove Real Estate
The home located at 3638 Palmetto Avenue finally sold after 39 months on the market. Once it was reduced to $675,000 they got a contract in a few weeks.
This sale reinforces my belief that the closer you price your home to its true value the quicker it will sell. When you build in a large cushion on top of your home’s true value it only turns away buyers.
Let me explain further. It was originally priced at $920,000 back in 2006 and then it was reduced, reduced, reduced over the years to a final asking price of $675,000. Once they had it priced at $675,000 (very close to the home’s true value), they got a contract within a matter of weeks and sold only $20,000 less than their asking price.
Steve Harvey, a nationally recognized real estate guru believes that in this market your home price must be “compelling” and not just “competitive”. He believes that you should price your home so that a buyer is compelled to buy it.
The sellers of 3639 Palmetto Avenue finally made their home so compelling that it brought a buyer in less than a month. Point made.
If you are interested in buying or selling real estate or just want my opinion on the value of your home, feel free to give me a call on my cell at 305.342.1623 or send me a note here.
