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Setting the Right Price – Scientifically Proven to Sell Your Home

Pricing Your Home RightSetting the Right Price – Scientifically Proven to Sell Your Home

By John Voket

I am always looking for the best advice for folks who are trying to sell their homes, and to get an honest deal. This brought me to some research published by Ken H. Johnson, Ph.D. of Florida International University. Dr. Johnson is editor of the Journal of Housing Research and guest blogger at Keeping Current Matters (kcmblog.com).

Dr. Johnson recently wrote about the important research of professor John R. Knight, who studied the impact of changing a property’s listing price to produce a sale. Knight also examined the types of property that are most likely to experience a price change.

Findings from Knight’s research indicate that on average, properties undergoing listing price changes take longer to sell, and suffer a price discount greater than similar properties. Furthermore, bigger price changes are found to experience even longer marketing times and greater price discounts.

Finally, as for which properties are most likely to experience a price change, Knight finds that the greater the initial markup, the higher the likelihood that any given property will experience a listing price change.

With that in mind, Dr. Johnson says sellers—as well as brokers/agents—should be aware of Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

The Market in a Minute

The Market in a Minute
[youtube]http://www.youtube.com/watch?v=fNZ9ziEQzE4[/youtube]

Dr. John Tuccillo, Florida Realtors Chief Economist, reports that the positive trend in Florida continues across the board.

I hope this information is useful to you.  Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Getting Your Price in an Improving Market

Getting Your Price in an Improving MarketPrice Tag

By Barbara Pronin, RISMedia Columnist

For the first time in several years, home prices are rising in many of the nation’s metropolitan areas. This is good news for homeowners who have been waiting to put their homes on the market. But competition can be stiff, and the savvy seller will put a few dollars and a little elbow grease into sprucing up his property to make it more attractive to potential buyers.

From California real estate agent Ellen Parker, here are five tips for improving your home’s eye appeal without breaking the bank:

Curb appeal counts – A buyer’s first impression is important. Be sure the lawns and landscaping are neatly trimmed, no toys or equipment clutter the lawn or driveway, and the front door and mat look fresh, clean, and inviting. Painting or replacing a faded front door can vastly improve the look of the property.

Neutralize the rooms – Especially if you have tended toward bright paint colors, it may be time for a coat of paint to neutralize the living areas of your home. Choosing a safe off-white or cream colored paint can improve the home’s eye appeal for a greater number of buyers.

Brighten the bathroom – Tired-looking or outdated bathrooms are frequently a buyer turn-off. But you don’t need to completely remodel. Replacing the sink and/or cabinet with a trendy new style or changing out the hardware for something snazzier can make a huge difference. Be sure the hanging towels and bath mat, and the shower curtain if you have one, are fresh and super clean.

Tidy the kitchen – Here again, a fresh coat of paint can improve the look of your kitchen – and even older flooring or countertops will look better when cleaned to a shine. Removing clutter from the countertops – including canisters and some small appliances – will help create a feeling of space. Keep all sponges and towels out of view and be sure the sink is shiny clean and free of dirty dishes.

Let the light in – Dark rooms are another turn-off. Especially when you know your home will be shown, open the drapes and curtains to let natural light in.

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

How Much Is Your Home Worth?

How Much Is Your Home Worth?

An accurate assessment of your home’s value is an important first step in selling your house quickly and for a fair price.

There are several ways to determine your home’s value:

  • Comparative Market Analysis
  • Appraisal


Contact  me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Four Killer Questions to Ask Your Agent

Four Killer Questions to ask Your AgentQuestions

By Maria Patterson

As prices slowly start to rise and inventory begins to shrink in many areas, you may finally be ready to put your home on the market. However, selling your home in today’s gradually recovering market is still tricky business and requires the expertise of a professional real estate agent.

Take your time when selecting the right agent to work with. You’re about to embark on a major endeavor so having the right chemistry—and the right level of trust—are essential. Here are four important questions to ask a prospective agent that will help you determine if he or she is the right person to list your home with:

  1. How long have you been a real estate agent? The number of years an agent has been in the business is important information for you to know—and there are pros and cons to every level of experience, so don’t rush to judgment. For example, if an agent has only been practicing for a couple of years, that’s not necessarily a bad thing. Agents who started in real estate after the bubble burst only know how to operate within current market conditions and won’t waste time on outdated strategies that worked during the housing boom, but that won’t work now. Measure their success by the home’s they’ve sold so far and how they overcame the particular challenges of those sellers. Conversely, if you’re prospective agent is a real estate veteran, be sure to ask how he or she has adapted their approach for the market downturn. While their years of experience are invaluable to you, make sure they’ve changed accordingly with the times.
  2. What will you specifically do to market my home? In today’s technology-based environment, don’t settle for a general response, such as “online marketing” and “virtual tours.” Ask prospective agents which specific listing syndication sites your home will appear on, how many Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

The Reasons Your House Isn’t Selling and What You Can Do about It (Part 1)

The Reasons Your House Isn’t Selling and What You Can Do about It

(Part 1)No Curb Appeal

By Kristin Brown-Orr

Selling a home can be a daunting undertaking, and while you may be helpless to control the state of the market or the number of prospective buyers in your price range, here are a few ways to be proactive against some of sellers’ most common pitfalls:

Problem: Competition. Are there too many homes for sale in your price range? If there are too many options open to buyers in your market, you may not see as many showings as you’d like.

What You Can Do: Unfortunately, the state of the market in your neighborhood or town is pretty much beyond your control. You’ll need to think about how you can make your home a more attractive sale, either by lowering your price or providing attractive terms of sale.

Problem: Your asking price is too high. It’s stating the obvious, but if your asking price is too high, you’ll price yourself right out of a lot of Read the rest of this entry »

Written by Michael Solovay | Discussion: 5 Comments »

Real Estate Bidding Wars Are Back

Real Estate Bidding Wars Are Back

Pending-home sales in March hit their highest level since April 2010, spurring the return of real-estate bidding wars. Nick Timiraos reports on The News Hub.

Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

How’s the Real Estate Market in YOUR Area?

How’s the Real Estate Market in YOUR Area?

Subscribe to my Real-Time Market Report.  It’s all about what’s going on right now and it’s free!

Learn about price trends, supply and demand and leading indicators.  Better real estate market information helps you make your decisions with confidence!

Executive Summary Condo 33180 - May 16, 2011

It’s FREE! Click here to register and we’ll get you my Real-Time Market Report today!

Written by Michael Solovay | Discussion: No Comments »

Aventura, FL Real Estate Market Conditions (May 6, 2011) – Single Family

7-day stats for Single Family properties in
MIAMI, FL33180 – Aventura as of May 6, 2011
Median List Price $799,000 Average List Price $923,051
Total Inventory 55 Price per Square Foot $261
Average Home Size 2,935 Median Lot Size 7,990
Average # Beds 3.87 Average # Baths 3.45
Homes Absorbed 5 Newly Listed 1
Days on Market 253 Average Age 29

Median Price for homes in MIAMI, FL 33180 - Aventura

Median Price for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $799,000

Inventory for homes in MIAMI, FL 33180 - Aventura

Inventory for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 55

Average Days on Market for homes in MIAMI, FL 33180 - Aventura

Average Days on Market for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 253

Median Price per Sqft for homes in MIAMI, FL 33180 - Aventura

Median Price per Sqft for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $261

Written by Michael Solovay | Discussion: No Comments »

Aventura, FL Real Estate Market Conditions (May 6, 2011) – Condo

90-day stats for Condo properties in
MIAMI, FL33180 – Aventura as of May 6, 2011
Median List Price $357,539 Average List Price $499,459
Total Inventory 892 Price per Square Foot $246
Average Home Size 1,466 Median Lot Size n/a
Average # Beds 2.31 Average # Baths 2.45
Homes Absorbed 44 Newly Listed 35
Days on Market 244 Average Age 19

Median Price for homes in MIAMI, FL 33180 - Aventura

Median Price for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $357,539

Inventory for homes in MIAMI, FL 33180 - Aventura

Inventory for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 892

Average Days on Market for homes in MIAMI, FL 33180 - Aventura

Average Days on Market for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 244

Median Price per Sqft for homes in MIAMI, FL 33180 - Aventura

Median Price per Sqft for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $246

Written by Michael Solovay | Discussion: No Comments »

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