Joseph Santini's Real Estate Blog

While you'd like to get the best price for your home, consider these six reasons to reduce your home price.

Home not selling? That could happen for a number of reasons you can't control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

These six signs may be telling you it's time to lower your price.

1. You're drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it's overpriced and are waiting for the price to fall before viewing it.

2. You're drawing lots of lookers but have no offers

If you've had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home's been on the market longer than similar homes

Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you're pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there's something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline

If you've got to sell soon because of a job transfer or you've already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It's not how much money you need that determines the sale price of your home, it's how much money a buyer is willing to spend.

5. You can't make upgrades

Maybe you're plum out of cash and don't have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn't as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it's time to accept that buyers expect to pay less for a home that doesn't show as well as others.

6. The competition has changed

If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what's still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

In today's market the last thing you need to hear from your lender right before your closing is that they can't do the loan.  To help avoid this the best thing you can do is to select a good lender right from the start.  As a Realtor I know I feel so much more comfortable when I recognize the lender involved with the deal.

A great lender to use is Coldwell Banker Home Loans.  They are always very helpful and will do everything they can to assist you by providing you with accurate information at all times.  Check out their website below for more info.

www.ColdwellBankerHomeLoans.com

So many times I walk into a property to see way to much furniture for the space.  Although the current owner may not mind, the prospective buyers are not being shown the property in its best light.  Most owners just assume that the buyers will be able to imagine the room without the pieces in it but I can tell you that they absolutely will not be able to. 

Do yourself a favor and lose all that extra furniture by putting it in storage or just selling it.  I guarantee that you will be amazed at how much better the property shows.  Lose the furniture if you want to sell.  Its taking up much to much real estate.

Florida Atlantic University looks like it will be getting its much deserved stadium on its campus in Boca Raton.  The Board of Trustees recently approved the proposed financing plan.  Once the State Board of Governors approves the project its a done deal. 

For a young school their sports programs are really excelling, especially Women's Soccer and Men's Football and they deserve it.

Boca Raton, Florida has a home for everyone!  Prices range from $100,000 up to $28,000,000.  You can live out West or East by the water in just about every kind of development you can imagine.  Gated, not gated, country club, waterfront, downtown or oceanfront. The choices are endless!  Check out Boca Raton where the lifestyle is second to none!

Every year people come back to Boca Raton, Florida to buy property as many feel that this is a great time to buy as its the slowest part of the year.  This may or may not be true depending on the property your talking about.  Activity is slower so if someone has to sell the buyer does have more power in most cases. There are many properties to choose from and the interest rates are great so why not try to get another advantage when buying.

Check out this great publication which is all about Boca Raton, Florida.  It will keep you informed about everything going on in Boca including things like fine dining, entertainment and health and fitness.  The Best of Boca issue is very popular and can be found at all the popular stores that sell magazines.

www.bocamag.com

Palm Beach County, Florida remains active as buyers continue to buy properties at good prices. With such good interest rates and buyers feeling comfortable with where the market is heading the inventory should continue to decrease.  Foreclosures have eased up and things look pretty good in South Florida!  Below are the numbers for Palm Beach County for June 2010.

Total Properties Available     22,458

Total Properties Pending      2,893

Total Properties Sold         2,314

Pricing is always a touchy subject when dealing with peoples homes.  This is the place where they have raised their children and experienced all that life has to offer so obviously it means alot to them.  In the end its not the property owner or the Realtor who will determine the price of the property but the market and the market never lies.  It will give you the correct number regarding the value of your property.  A good Realtor will interpret what is happening in the market and pass that information along to the seller.

Now is the time to plan where you will be staying this winter and what better place than Boca Raton, Florida. The best apartments on the beach will go first. Start looking and secure your place now especially if you need a three bedroom as these are always hard to get.  Look to spend $4,000 per month and up for a nice place.